Across
- 4. Tangible economic product that is useful, transferable to others, and is used to satisfy wants and needs
- 8. Item that wears out, is used up, or lasts for fewer than 3 years when used regularly
- 9. Monetary value of all final goods, services, and structures produced within a country's national borders during a 12 month period
- 10. Monetary worth of a good or service as determined by the market
- 11. Basic requirement for survival, including food, clothing, and shelter
- 14. Social science dealing with how people satisfy seemingly unlimited and competing needs and wants with the careful use of scarce resources
- 15. Sum of tangible economic goods that are scarce, useful, and transferable from one person to another; excludes services
Down
- 1. Tool, equipment, or other manufactured good used to produce
- 2. Apparent contradiction between the high value of a nonessential item and the low value of an essential item
- 3. Good intended for final use by consumers other than businesses
- 5. Ability or capability of a good or service to be useful and give satisfaction to someone
- 6. Something we would like to have but is not necessary for survival
- 7. Good that lasts for at least 3 years when used regularly
- 12. Work or labor performed for someone; economic product that includes haircuts, home repairs, and forms of entertainment
- 13. Fundamental economic problem facing all societies resulting from a combination of scarce resources and people's virtually unlimited needs and wants