Across
- 3. results from a society not having enough resources to produce all the things people want and need.
- 6. provides to productivity. Investing in education and training can have a substantial payoff in the future.
- 7. a good that lasts more than three years, when regularly used.
- 10. economic system with very little innovation, elders decide how scarce resources are used and they do not embrace change.
Down
- 1. economic system where the government owns and controls all factors or production.
- 2. market for goods and services. Households act as consumers and businesses act as suppliers.
- 4. model that shows how markets connect businesses and people in the economy.
- 5. tool or equipment used to produce another product.
- 8. study of how people try to satisfy their needs and wants through careful use of scarce resources.
- 9. something you find satisfying or useful.