Vocabulary Economics 1

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Across
  1. 4. using goods and services
  2. 5. monetary value of a product as established by supply and demand
  3. 7. a positive motivational influence
  4. 9. the power of consumers to decide what gets produced
  5. 11. the process of creating goods and services
  6. 12. formal statement of expected product performance by the manufacturer
  7. 13. a business owned by one individual
  8. 14. an agreement to protect possession or rights
  9. 18. a quantity much larger than is needed
  10. 19. limited quantities of resources to meet unlimited wants
Down
  1. 1. whatever must be given up to obtain some item
  2. 2. a person who starts up and takes on the risk of a business
  3. 3. the study of how people seek to satisfy their needs/wants by making choices
  4. 6. the amount of goods and services people are willing to buy
  5. 8. the point at which the quantity demanded and the quantity supplied are equal
  6. 10. money or wealth used to invest in business or enterprise
  7. 15. anything that is used to produce goods or services
  8. 16. the cost of operating a business
  9. 17. money that is left after all expenses have been paid from a business or an investment
  10. 19. the amount of goods available