Across
- 3. Goods and money used in the production of goods and services
- 9. Process of choosing which needs or wants will be satisfied
- 11. Combines elements of the command and market economies
- 12. Economic system which freedom to consume and produce goods and services exists
- 13. Economic system in which decisions are based on customs and centered on family
- 14. Necessities required for living
- 15. Economics system in which the government owns resources and dictates what is produced
- 20. Study of the decisions made for production, distribution, and consumption of goods and services to satisfy needs and wants
- 22. Raw materials supplied by nature
- 24. Businesses that offer the same goods to the same customers
- 25. Buys and uses the goods and services
- 26. Condition that exists when wants or needs exceed resources available
Down
- 1. The point where supply and demand are equal
- 2. Money left after selling goods and services and costs of operating a business have been paid
- 4. Value of the next-best alternative that is forgone to produce or obtain another product
- 5. Means from which goods and services are produced
- 6. Anywhere goods and services exchange hands
- 7. People using efforts, knowledge, and skills at work to produce goods and services
- 8. Items that can be purchased to satisfy needs and wants
- 9. The initiative to combine natural, human, and capital resource
- 10. Opportunity to make choices of goods and services and accept consequences of decisions
- 16. Goods and services are owned and controlled by the people
- 17. Goods that are purchased to add comfort or pleasure to life
- 18. Individuals and organizations that determine which goods and services will be available for consumption
- 19. Right to purchase, use, and discard of things of value
- 21. Activities that can be consumed at the time of purchase to satisfy needs and wants
- 23. Process of giving up something for gaining something else