Across
- 2. A five-step procedure that assists in making the most appropriate choice among competing alternatives
- 6. The means through which goods and services are made available to consumers
- 10. People who work to produce goods and services in a business; also known as workforce or labour
- 14. A product or service that consumers no longer want because it has become outdated or outmoded or has been replayed by a new or improved product
- 15. When consumers have the power to choose where they will buy goods and services, and how much they will pay for them
- 20. Patrons of a particular store or business
- 22. A person who takes risks and starts a venture to solve a problem or to take advantage of an opportunity; a person who provides an innovative product or service to meet a consumer want or need
- 23. Assistance provided, usually in return for payment, that satisfies needs or wants of consumers
- 24. The quantity of a good or service that consumers are willing and able to buy
- 26. Mutually dependent; relying on others who also rely on you
- 27. The economic principle that supply goes up when prices go up, and comes down when prices come down
- 29. The quantity of a good or service that producers can provide, determined by the costs of producing it and by the price people are willing to pay for it
- 32. A charitable organization or charity that does not seek profit from the operations of the business and raises funds for a specific goal
- 33. The amount of money that is required for each stage of production
- 34. Expenditures that help a business generate revenue; assets that are consumed in the process of generating revenue
Down
- 1. An individual or business that makes a product or provides services
- 3. An independent association of persons who utilize the goods and services offered and come together to meet their economic, social, and cultural needs and goals
- 4. A situation in which two or more businesses try to sell the same type of product or service to the same customer
- 5. Resources such as equipment, a building, or money, that are used to produce goods and services
- 7. Any business that employs fewer than 500 people
- 8. Another name for economic resource
- 9. Quantity of goods and materials kept on hand
- 11. The raw materials that come from the earth, the water, and the air
- 12. The reward that an owner receives for taking risks. It is the money left over from sales after the costs and expenses of operating a business have been paid. The income that is left from sales after all costs and expenses are paid
- 13. The economic principle that demand goes up when prices come down, and comes down when prices go up
- 16. An organization, often a charitable organization, that does not seek to make a profit from the operations of the business
- 17. When businesses are in control and can charge high prices and raise prices when costs go up
- 18. Items not necessary for survival but that adds pleasure and comfort to life
- 19. The value of a product or service expressed in dollars and cents and is determined by many factors, including supply and demand
- 20. A person who buys goods and services. Also referred to as a customer
- 21. Any location where producers and consumers come together to engage in the buying or selling of goods and services
- 25. Items necessary for survival such as food, clothing, or shelter
- 28. Having the ability to pay all debts and meet financial obligations
- 30. The way business and government work together to provide goods and services to consumers, and ensures that a country’s resources will not be overstretched
- 31. Items that can be seen and touched