Across
- 1. Productive acts that are useful, scarce, and transferable and which satisfy economic wants.
- 6. Economic principle which states that the supply of a good or service will increase when demand is great and decrease when demand is low.
- 9. The economic process or activity by which income is divided among resource owners and producers.
- 12. Giving up all or a part of one thing in order to get something else.
- 15. The quantity of a good or service that buyers are ready to buy at a given price at a particular time.
- 16. A condition resulting from the gap between limited resources and unlimited wants for goods and services.
- 17. Productive resources; human and natural resources and capital goods.
- 18. The process or activity of using goods and services; the economic process or activity of using goods and services.
- 19. People who work to produce goods and services.
- 21. The human and natural resources and capital goods used to produce goods and services.
- 23. The quantity of a good or service that sellers are able and willing to offer for sale at a specified price in a given time period.
- 24. A desire for something that can only be satisfied by spending money.
- 25. The study of how to meet unlimited, competing wants with limited resources.
- 27. Manufactured or constructed items that are used in the production of goods and services.
- 29. Desires for things that can be obtained without spending money.
- 30. A form of demand for products in which changes in price correspond to changes in demand.
Down
- 2. The situation that exists when supply is greater than demand.
- 3. A form of demand in which changes in price do not affect demand.
- 4. An indication of how changes in price will affect changes in the amounts demanded and supplied.
- 5. Something required or essential that is lacking.
- 6. Economic principle which states that the quantity of a good or service that people will buy varies inversely with the price of the good or service
- 7. A desire for something that is not required.
- 8. Items found in nature that are used to produce goods and services.
- 10. Products purchased by producers for resale, to make other goods and services, and/or to use in business operations.
- 11. The economic process or activity of producing goods and services.
- 13. Products produced for personal consumption.
- 14. The point at which the quantity supplied is equal to the quantity demanded.
- 20. Physical objects that are useful, scarce, and transferable and which satisfy economic wants.
- 22. Economic principle which states that the quantity of a good or service that will be offered for sale varies in direct relation to its price.
- 26. The economic process of trading one good/service for another.
- 28. The situation that exists when demand is greater than supply.