Across
- 5. System in which producers and consumers decide what gets made and for whom.
- 6. Those things which humans can put to productive use.
- 8. Desire to organize the factors of production in order to make easy money.
- 9. Food, shelter, & clothing.
- 11. system in which what is produces is what has always been produced.
- 13. A type of government regulation that will not allow the price of a good or service to rise above a certain level
- 16. That amount of benefit a person, business, or government receives once the cost of their decision is considered.
- 19. A decrease in the general level of prices of goods and services.
- 20. Individuals and businesses freely choose to exchange goods, services, & resources for something else of value.
- 23. Forced common ownership of factors or production.
- 25. Schedule of quantities offered for sale at all possible prices in a market.
- 26. A type of government regulation that will not allow the price of a good or service to drop below a certain level.
- 27. System consisting of elements of more that none system that makes up and economic framework.
- 31. of Living/ Quality of life based on ownership of necessities and luxuries that make life easier.
- 37. a natural resources that cannot be renewed over time.
- 40. All the factors of production that go into producing a good or service.
- 41. Something that is advantageous or good.
- 42. The study of how individuals,businesses,and nations can best allocate their limited resources.
- 44. All of the raw materials in nature that are used to produce what people need or want.
- 46. Money paid to an investor in exchange for the use of their money.
- 48. One strategy for dealing with scarcity.
- 49. to stop or decrease the rules that an industry must follow.
- 51. Factors of production such as land, labor, capital, & entrepreneurship.
- 52. New products that perform a task or fulfill a need that no previous products could perform or full or at least not nearly as well.
- 53. Making Model/ in deciding how to deal with scarcity a person must go through this process.
- 54. The rate at which goods and services are produced.
- 55. of Labor The act of splitting up work into smaller and more specialized tasks.
- 56. goods and or services provided by the government because society needs them regardless of how profitable they might or might not be.
- 59. Taxes on imports.
- 60. This refers to all the structures and equipment involved in the manufacturing process.
- 61. Products used to make other goods or provide services.
- 62. Lack or adequate resources to obtain all of one's wants.
- 63. The ability to own one's own property in a key element in a market economy because it provides incentives, so the government usually tries to protect these rights.
Down
- 1. The amount of a good or service produced.
- 2. A theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.
- 3. Economic system in which private citizens own and use the factors of production in order to generate profits.
- 4. In order to avoid and economic crisis that government will from time to time jump in and interfere with the natural economic cycle.
- 7. The devotion of resources to a specific task.
- 10. Investment in people.
- 12. System in which the government owns most of the property and means of production.
- 14. Charging an extremely high price for a product in order to take unfair advantage of a given situation.
- 15. the act of giving up one thing of value to gain another thing of value.
- 17. Any invention or change in process that greatly improves something that already exists.
- 18. Investment in capital goods and human capital.
- 21. Items purchased for final use by individuals, households, or firms.
- 22. A natural resource that can be replenished over time.
- 24. All human contributions to a production process.
- 28. The cost of the decision one it is weighed against the benefits.
- 29. Goods and services people desire that they would obtain if they could.
- 30. This is the specific form of labor that consists of the creative, managerial, and risk taking capabilities involving in starting up and running a business.
- 32. The money that producers make after the have paid for all their costs.
- 33. The nation's central bank.
- 34. Combination of desire, ability, & willingness to buy a product.
- 35. taking money from citizens who have it, usually through taxes, and giving it to those who don't.
- 36. intervention into business practices by a level of government by means of rules or laws
- 38. All natural resources used in the production of a good or service.
- 39. The role of consumer as rule of the market when determining the types of goods and services produced.
- 43. Money paid by the government to make up for losses in an industry.
- 45. A theory or system or social organization.
- 47. Using a resource that could bring immediate benefits for the purpose of gaining greater benefits at a later time.
- 50. Cost/ The value of the alternative option that is lost when an individual, business or government makes a decision.
- 57. A rise in general level in prices of goods and services.
- 58. Output is distributed equally among citizens.