Economics

1. An economic system in which the government makes all decisions regarding the production and distribution of goods and services.
3. Refers to man-made resources used in production.
4. An economic system in which decisions regarding investment, production, and distribution are driven by supply and demand in the marketplace.
5. Refers to the tangible, man-made assets that are used in the production of goods and services.
8. An economic system that combines elements of both command and market economies.
11. Refers to natural resources used in production.
13. Requirements which is essential for an individual to survive.
15. A term which looks at behaviors and decisions of customers and businessess.
16. A statement which cannot be proved and based on making recommendations.
17. A term which also looks at behaviors and decisions but at a broader level usually with government involvment.
18. Desires driven by personal preferences or societal influences.
20. A process of making goods and services.

2. Involves the ability to combine other factors of production to create goods and services.
6. Refers to the skills, knowledge, experience, and abilities that individuals possess, which contribute to their productivity in the workplace.
7. Refers to human resources used in production.
9. A division used on labor to assign workers on a specific task.
10. The study of scarcity, resource allocation, and economies.
12. Concentrate on producing some goods and services rather on the others.
14. Refers to when resources are unable to satisfy customers wants and needs.
19. A statement which can be proved based on cause and effects.