Unit 1 - Economics

1234567891011121314151617181920212223242526272829303132333435
Across
  1. 2. The laws, institutions and common practices that help a country determine how to use its resources to satisfy as many of its people's needs and wants as possible.
  2. 4. A factor of production that refers to the machinery factories warehouses and equipment used to produce goods and services.
  3. 5. Those goods or services that an economy produces to satisfy human needs.
  4. 8. Canadian Economic Goal concerned with an increase in an economy's total production of goods and services.
  5. 9. Physical resources that are necessary for production and are visible.
  6. 10. Political Economic system characterized by private ownership of business and industry the profit motive and free markets.
  7. 13. The sacrifice of one resource or production choice for another.
  8. 15. The funds used to acquire real capital.
  9. 18. A factor of production comprising the physical and mental effort contributed by people to producing goods and services.
  10. 19. The contribution made by an owner manager or innovator who organizes land labour and capital to produce goods and services.
  11. 20. An economic system in which production decisions are made by the actions of buyers and sellers in the marketplace.
  12. 24. Goods such as tools or machinery used to produce consumer goods.
  13. 25. The value of benefit that must be given up to achieve something else.
  14. 26. Concerted messaging efforts used to influence thoughts and opinions by repeated emphasis distortion deception and misinformation.
  15. 27. A self-sustaining system in which many independent transactions in a society create distinct flows of money and products or services.
  16. 31. Resources that are necessary for production such as entrepreneurship knowledge and an environment for enterprise.
  17. 33. Term applied to the private ownership of productive resources, characteristic of a market economy.
  18. 34. Resources that are used to produce goods and services. Also called factors of production.
  19. 35. Political system characterized by a freely elected government that represents the majority of its citizens.
Down
  1. 1. Economic system predominantly featuring characteristics of a free market system but also incorporating some qualities of command economies.
  2. 3. A factor of production that includes all natural resources used in production.
  3. 4. - Canadian term for government owned land.
  4. 6. Political system in which a single person exercises absolute authority over an entire country.
  5. 7. Political system of the moderate left that calls for public ownership of the principal means of production to be achieved in a democratic and peaceful manner.
  6. 11. An economic system in which production decisions are made by government appointed central planners.
  7. 12. Political system on the extreme right combining a free market economy with non democratic form of government.
  8. 14. Canadian Economic Goal concerned with promoting optimal production targets and optimal use of the labour force.
  9. 16. Political system on the extreme left that calls for government or community ownership of the means of production.
  10. 17. A graphical representation of the production choices facing an economy.
  11. 21. The curve on a production possibilities graph representing the maximum numbers of two items that can be produced with a given amount of resources.
  12. 22. The study of the way society makes decisions about the use of scarce resources.
  13. 23. Trading of goods and services without the use of a monetary system.
  14. 28. The use of bare minimum of resources to achieve a desired end such as consumption.
  15. 29. An economic system in which production decision are determined by the practices of the past.
  16. 30. A firm's ability to maximize output from the resources available usually measured as the firm's output per worker.
  17. 32. To use limited resources efficiently in production.