Bryan Econ Ch1.2 vocab

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Across
  1. 3. takes place when work is arranged so that individual workers do fewer tasks than before
  2. 4. occurs when a nation's total output of goods and services increases over time
  3. 6. takes place when factors of production perform tasks that they can do relatively more efficiently than others
  4. 8. contradiction between necessities and value
  5. 13. the sum of the skills,abilities, health, and motivation of people
  6. 15. goods and services that are useful, relatively scarce, and transferable to others
  7. 16. a location or other mechanism that allows buyers and sellers to exchange a certain economic product
  8. 18. the capacity to be useful and provide satisfaction
Down
  1. 1. markets where productive resources are bought and sold
  2. 2. the American economy has a remarkable degree of what?
  3. 5. work that is performed for someone
  4. 7. manufactured goods used to produce other goods and services
  5. 9. markets where producers sell their goods and services to consumers
  6. 10. accumulation of those products that are tangible, scarce, useful, and transferable from one person to another
  7. 11. intended for final use by individuals
  8. 12. a measure of the amount of output produced by a given amount of inputs in a specific period of time
  9. 14. an item that economically useful or satisfies an economic want
  10. 17. a worth that can be expressed in dollars and cents