Across
- 3. - an item that is economically useful or satisfies an economic want
- 5. - is the situation where some necessities have little monetary value (water) and some non-necessities have a much higher value (diamonds)
- 6. - goods and services that are useful relatively scarce, and transferable to others
- 9. - in an economic sense is the accumulation of those products that are tangible, scarce, useful and transferable from one person to another
- 10. - refers to worth that can be expressed in dollars and cents
- 12. - markets where producers sell their goods and services to consumers
- 14. - when manufactured goods are used to produce other goods and services
- 15. - when a nation’s total output of goods and services increases over time
Down
- 1. - takes place when work is arranged so that individual workers do fewer tasks than before
- 2. - the sum of the skills, abilities, health and motivation of people
- 4. - markets where productive resources are bought and sold
- 5. - a measure of the amount of output produced by a given amount of inputs in a specific period of time
- 6. - means that we rely on others, and others rely on us, to provide the goods and services that we consume
- 7. - work that is performed for someone
- 8. - the capacity to be useful and provide satisfaction
- 11. - a location or other mechanism that allows buyers and sellers to exchange a certain economic product
- 13. good - is intended for final use by individuals