Across
- 2. items not necessary for survival but adds pleasure and comfort to life
- 5. an independent association of persons who utilize goods and services offered to come together to meet their economic, social and cultural needs and goals
- 9. when consumers have the power to choose where they will buy goods and services and how much they will pay for them
- 11. a product or service that consumers no longer want because it has become outdated or has been replaced by a new or improved product
- 12. any business that employs fewer than 500 people
- 14. items necessary for survival
- 15. a situation in which two or more businesses try to sell the same type of product or service to the same customer
- 18. a person who starts a venture to solve a problem or to take advantage of an opportunity
- 19. when businesses are in control and can charge high prices and raise prices when costs go up
- 23. an individual or business that makes a product or provides services
- 27. an organization, often charitable, that does not seek to make a profit from the operations of the business
- 28. a quantity of goods and materials kept on hand
- 29. having the ability to pay all debts and meet financial obligations
- 32. the amount of money required for each stage of production
- 33. another name for economic resource
- 34. the way business and government work together to provide goods and services to consumers and ensures that a country's resources will not be overstretched
Down
- 1. the economic principle that supply goes up when prices go up, and comes down when prices come down
- 3. people who work to produce goods and services in a business; also known as workforce or labour
- 4. any location where producers and consumers come together to engage in the buying or selling of goods and services
- 6. the economic principle that demand goes up when prices come down, and comes down when prices go up
- 7. assistance provided, usually in return for payment, that satisfies needs or wants of consumers
- 8. a charitable organization or charity that does not seek profit from the operations of the business and raises funds for a specific goal
- 10. mutually dependent;relying on others who also rely on you
- 13. expenditures that help a business generate revenue
- 16. the raw materials that come from the earth, the water and the air
- 17. the quantity of a good or service that consumers are willing and able to buy
- 20. resources such as equipment, a building, or money that are used to produce goods and services
- 21. a person who buys goods and services aka a customer
- 22. The reward that an owner receives for taking risks
- 24. patrons of a particular store or business
- 25. the means through which goods and services are made available to consumers
- 26. the value of a product or service expressed in dollars and cents and is determined by many factors, including supply and demand
- 30. items that can be seen and touched
- 31. the quantity of a good or service that producers can provide, determined by the costs of producing it and by the price people are willing to pay for it