Across
- 1. sum of people’s skills, abilities, health, and motivation
- 5. markets in which productive resources are bought and sold
- 8. assignment of tasks to the workers, factories, regions, or nations that can perform them most efficiently
- 9. process or means by which something can be accomplished
- 10. market economy in which privately owned businesses have the freedom to operate for a profit with limited government intervention
- 13. comparison of the cost of an action to its benefits
- 14. market in which goods and services are bought and sold
Down
- 2. something taken for granted; something we think is true
- 3. simplified version of a complex concept or behavior expressed in the form of a graph, figure, equation, or diagram
- 4. quality of life based on ownership of necessities and luxuries that make life easier
- 6. increase in a nation’s total output of goods and services over time
- 7. division of work into a number of separate tasks to be performed by different workers
- 11. mutual dependence of the economic activities of one person, company, region, or nation on those of another person, company, region, or nation
- 12. measure of the amount of output produced in a specific time period with a given amount of resources; normally refers to labor, but can apply to all factors of production
- 15. meeting place or mechanism through which buyers and sellers of an economic product come together; may be local, regional, national, or global