Business

2. people that work to produce and services in a business
3. one that combines aspects of both capitalism and socialism
8. an item that can be seen or touched and is essential for survival
10. one in which a centralized government controls the means of production and determines output levels
11. an item that can be seen or touched
12. an item necessary for survival
13. cannot be perceived by touch
15. a person who uses goods or services
20. people or business that buy goods or services
21. an item which can be seen or touched but is not necessary for survival
23. equipment, building, money that is used to produce goods and services
25. products that are typically used together

1. a product or service that consumers see as essentially the same or similar-enough to another product
4. when there is a drastic change in market activity
5. an economic system where two forces, known as supply and demand, direct the production of goods and services
6. a period between a peak and a trough in the business cycle where there is a significant decline in economic activity spread across the economy that can last from a few months to more than a year
7. those in which customs and traditions are more important than money
9. the willingness and ability of a consumer to buy goods and services at a specific price
14. means through which goods and services are made available to consumers
16. the total amount of a specific good or service that is available to consumers
17. a sustained period of significant economic decline that sees a nation's GDP drop, unemployment rates rise and consumer confidence suffer
18. an item not necessary for survival but that adds pleasure and comfort to life
19. those raw materials that we get from earth
22. the state in which market supply and demand balance each other, and as a result prices become stable
24. general increase in the price of goods and services over a period of time