Economic Terms

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Across
  1. 2. Economy based on supply and demand.E.g. USA
  2. 5. Items not necessary for survival, improve life. E.g. jewelry, decoration
  3. 9. Assistance provided. E.g. Teaching
  4. 12. Private and corporate ownership of resources and competition for profits with minimal government intervention.E.g. USA
  5. 14. Economic growth. E.g. New company opening.
  6. 17. Come up with a new object/unique idea.E.g. Invention of light bulb
  7. 19. Individual/business that makes products. E.g. Backer
  8. 20. Item has been replaced by a new product.E.g. typewriters
  9. 23. Economy slows down.E.g. High unemployment, low spending
  10. 24. The highest point before decline.E.g. Stock market boom
  11. 26. Measures inflation by tracking price changes.E.g. CPI rising means higher cost of living
  12. 29. A mix of market and government control.E.g. Canada, France
  13. 30. People who use goods/services. E.g. A person buy and uses a toy
  14. 31. Items necessary for survival. E.g. water, food
  15. 32. Ways countries organize production/distribution.E.g. market
  16. 33. Resources from nature. Get from earth, water, air.E.g. Oil
Down
  1. 1. Through goods & services are made available to consumers. E.g. Labor
  2. 3. Based on customs and traditions.E.g. Indigenous communities
  3. 4. Workforce (People work to produce goods & services in a business).E,g. Doctors, engineers
  4. 6. Physical products can be seen/touched. E.g. Clothes, shoes
  5. 7. May replace each other in use/consumption.E.g. Coke and Pepsi
  6. 8. Economic improvement after a recession.E.g. Job growth, increased spending.
  7. 10. Purchasing power exceeds supply, currency depreciates, prices rise. E.g. Rising grocery costs
  8. 11. Improve on existing products. E.g. phones
  9. 13. How much is available.E.g. Food production
  10. 15. Government controls production.E.g. North Korea, Cuba
  11. 16. Items can be seen/touched & essential for survival.E.g. Food, medicine
  12. 18. A severe, long-term recession.E.g. Great depression in 1930s
  13. 21. Equipment, building, money, that is used to produce goods & services.E.g. Machines
  14. 22. Goods that are used together. E.g. Phones and chargers
  15. 25. Where demand meets supply.E.g. Stable gas prices.
  16. 26. Buy goods/services.E.g. A person shopping in the store and buying a computer.
  17. 27. Not necessary for survival.E.g. Luxury bag
  18. 28. How much people want a product.E.g. High demand for iPhones