Across
- 1. The capacity to be useful and provide satisfaction.
- 6. Manufactures goods are used to produce other goods and services.
- 9. The dollar value of all final goods and services, and structures produced within a country's borders in a 12-month period
- 10. An item that is economically useful or satisfies an economic want.
- 11. Goods and services that are useful, relatively scarce, and transferable to others
- 12. Markets where producers sell their goods and services to consumers
- 14. A way of thinking about problem that compares the cost of an action to the benefits received.
- 15. Apparent contradiction between the high value of nonessentials and low value of essentials
- 16. A measure of the amount of output produced by a given amount of inputs in a specific period
- 17. A location or other mechanism that allows buyers and sellers to exchange certain economic products
- 18. Economies rely on other economies to provide goods and services.
- 21. Work that is performed for someone.
- 22. The money used to buy the tools and equipment in production.
- 24. Intended for final use by individuals.
- 25. Refers to the "gifts of nature", or natural resources not created by humans.
- 26. Takes place when work is arranged so that individual workers do fewer task than before.
- 27. The study of how people try to satisfy what appears to be seemingly unlimited and competing wants through the careful use of relatively scarce resources.
- 29. An economy in which consumers and privately owned business, rather than the government, control the majority of economic decisions
- 32. Occurs when a nation's total output of goods and services increases over time.
- 34. The sum of skills, abilities, health, and motivation of people.
Down
- 2. Alternative choices.
- 3. The accumulation of those products that are tangible, scare, useful, and transferable from one person to another
- 4. Resources required to produce the things we would like to have.
- 5. The condition that results from society not having enough resources to produce all the things people would like to have.
- 7. The markets where productive resources are bought and sold.
- 8. A diagram representing various combinations of goods and/or services an economy can produce when all productive resources are fully employed.
- 13. A way of expressing a need.
- 19. The quality of life based on the possession of the necessities and luxuries that make life easier.
- 20. A worth that can be expressed in dollars and cents.
- 23. The tools, equipment, machinery, and factories used in the production of goods and services.
- 28. A basic requirement for survival.
- 30. A risk-taker in search of profits who does something new with existing resources.
- 31. The cost of the next best alternative use of money, time, or resources when one choice is made rather than another.
- 33. People with all their efforts, abilities, and skills.