Economic Choices and Systems Key Terms Crossword Puzzle

2. Items that can be purchased to satisfy needs and wants.
5. Economic system in which decisions are based on customs and centered on family.
6. Goods that are purchased to add comfort or pleasure to life.
7. Money left after selling goods and services and costs of operating a business have been paid.
8. Necessities required for living.
9. Raw materials supplied by nature.
11. Condition that exists when wants or needs exceed resources available.
14. Study of the decisions made for production,distribution, and consumption of goods and services to satisfy needs and wants.
17. Right to purchase,use, and discard of things of value.
18. Opportunity to make choices of goods and services and accept consequences of decisions.
20. of choosing which needs or wants will be satisfied.
23. People using efforts,knowledge, and skills at work to produce goods and services.
25. Economics system in which the government owns resources and dictates what is produced.
27. Individuals and organizations that determine which goods and services will be available for consumption.

1. Activities that can be consumed at the time of purchase to satisfy need and wants.
3. Value of the next-best alternative that is forgone to produce or obtain another product.
4. The initiative to combine natural,human, and capital resources.
10. Buys and uses the goods and services.
12. Businesses that offer the same goods to the same customers.
13. Process of giving up something for gaining something else.
15. Goods and money used in the production of goods and services.
16. Economic system which freedom to consume and produce goods and services exists.
19. Means from which goods and services are produced.
21. Goods and services are owned and controlled by the people.
22. The point where supply and demand are equal.
24. Anywhere goods and services exchange hands.
26. Combines elements of the command and market economies.