Across
- 2. Smith father of modern economics
- 4. Resources nation’s land and all of the materials nature provides that can be used to make goods or services
- 5. basic economic problem we all have
- 8. can be used to make goods and services
- 9. neccesities people have for goods and services
- 11. Resources once they are gone or diminished, they cannot be reproduced; leads to scarcity
- 13. to produce first basic economic question; consideration of what resources are available
- 15. study of economic choices made by individuals and small groups
- 16. type of economy where the government makes all major economic decisions
- 19. Market type of economy the United States has; a market economy that has elements of command and traditional as well
- 21. work that is done for a person
- 22. desires people have for goods and services
Down
- 1. workers and their abilities
- 3. study of economy as a whole and the economic choices made by large groups
- 6. buildings and tools used to make goods or services
- 7. type of economy based on custom or habit
- 10. Wants no limit on what people want in their lives; also leads to basic economic problem
- 12. study of people make choices about using resources to meet their wants and needs
- 13. gets the goods last basic economic question; considers how to distribute goods and services
- 14. System nation's way of producing things its people want and need
- 17. type of economy where individuals and businesses own all resources and decisions are made based on price
- 18. things(wants) people can touch or hold
- 20. to produce second basic economic question; consideration of workforce and labor needs