Business Terms

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Across
  1. 1. essential requirements for survival, safety, and stability, such as food, shelter, and water.
  2. 5. refer to desires, wishes, or cravings for something; items or experiences people would like to have but can live without.
  3. 6. is a system (economy) where a central government authority makes all key economic decisions, including production levels, pricing, and resource allocation, rather than market forces
  4. 10. these resources are materials and substances derived from nature—such as water, air, sunlight, soil, minerals, vegetation, and wildlife—used by humans for survival, economic, and industrial purposes.
  5. 13. is the quantity of money or value exchanged for goods or services
  6. 15. an economic system based on culture, customs, and beliefs to determine production and distribution, often featuring subsistence agriculture, hunting, fishing, and gathering.
  7. 16. refers to the total amount of a good or service available for purchase or use at a given price,
  8. 17. are physical, tangible items produced, bought, or sold in commerce, including raw materials, manufactured products, and commodities
  9. 18. intangible economic activities, actions, or performances that provide value to a customer without producing a physical product.
Down
  1. 2. refers to the desire, willingness, and ability of consumers to purchase goods or services at various price points
  2. 3. A legal entity separate from its owners
  3. 4. is an organized entity or effort that produces, buys, or sells goods and services to satisfy customer needs, usually with the goal of generating profit.
  4. 7. this economy is a system where production, investment, and distribution decisions are guided by price signals created by supply and demand.
  5. 8. these resources are man-made, durable assets used by businesses to produce goods and services. Examples include machinery, tools, buildings, and technology, which increase efficiency and generate profit over time.
  6. 9. Two or more people share ownership, management, and unlimited liability.
  7. 11. these resources refer to the knowledge, skills, abilities, and labor efforts (human capital) that individuals bring to the production of goods and services.
  8. 12. is the fundamental economic problem of having seemingly unlimited human wants in a world with limited resources.
  9. 14. Owned by one person with no legal separation between owner and business.