10CW Economics

4. when someone is willing and able to work but does not have a paid job.
6. place where production occurs and rely upon households to operate
9. an increase in the real value of goods and services produced in the economy over time
11. a factor of production that focuses on natural sources
12. there is a limited amount
14. an increase in the level of prices of the goods and services that households buy.
15. a factor of production that encompasses machinery
16. the study of the decisions, outcomes and activities that occur as a result of a scarcity of resources.

1. the value of the lost alternative use to which the economic resources could have been allocated.
2. the measurement of economic activity
3. segment of the economy that provide resources, earn income and spend their money
5. things that are necessary for our survival
7. humans wants and needs are __________
8. a factor of production that requires human skill and effort
10. things that are not necessary for our survival but provide satisfaction
13. the measure of inflation