Across
- 3. sovereignty: ruler role in the market
- 5. enterprise: an economy with little government interference
- 6. When people’s unlimited wants exceed the amount of limited resources available
- 9. measured on output per input
- 11. A product and/or service we wish to have, but is not mandatory for survival
- 13. people using their ability and effort for production
- 14. Services and/or products that are required for survival
- 16. Giving up or exchanging one thing to receive another
- 17. Cost- What is given up to obtain something else
- 20. exhange: free and willing trade
- 21. market- what products are made from; labor, and, materials and l capital
- 22. work and labor performed by a person
- 23. a way people provide wants and needs of the people
- 24. of living: the quality of ones lifestyle
Down
- 1. a person that takes risk to find profits
- 2. growth: consistent increase in goods and services.
- 3. useable financial resources
- 4. capital: money used to buy equipment and tools for production
- 6. to people, companies or countries focusing on producing one good or service
- 7. a useful product to satisfy wants and needs
- 8. natural resources/ everything that nature provides
- 10. the contest to attract sellers
- 11. the net worth of a person, household, or nation
- 12. of value- think diamond-water
- 15. market- marketplace that the final product or service is sold and bought
- 18. motive: the drive to improve wellness
- 19. ability of a good or service to be useful and satisfying to people