Across
- 3. gifts of nature available for production
- 4. goods and services produced by factors of production
- 7. the best next alternative forgone
- 8. the output per factor of production in an hour
- 10. human made goods used in production
- 11. human effort used in producing goods and services
- 13. gross investment minus depreciation
- 16. ability to change where capital is used or in which occupation.
- 18. situation where there is not enough to satisfy everyone’s wants
- 19. ability to change where enterprise is used lr in which occupation
- 25. people in work and those actively seeking work
- 27. the value of capital goods that have worn out or become obsolete
- 28. capable of changing use
Down
- 1. spending on capital goods
- 2. the economic resources of land, labour, capital and enterprise
- 5. curve that shows maximum output of two types of products and combination of those products that can be produced with existing resources and technology
- 6. reduction in number of capital goods caused by some obsolete and worn out capital goods not being replaced.
- 9. incapable of moving from one location to another location.
- 12. product which requires resources to produce it and therefore has an opportunity cost
- 14. unlimited wants exceeding finite resources
- 15. ability of labour to change where it works or in which occupation
- 17. output per worker hour
- 20. a person who bears the risk and make the key decision in business
- 21. goods and services purchased by households for their own satisfaction.
- 22. Factors used to produce goods and services
- 23. total spending on capital goods
- 24. product which doesn’t require any resources to make and so doesn’t have opportunity cost
- 26. risk bearing and key decision making in business