Across
- 3. The overall system of production, distribution, and consumption of goods and services within a specific geographic area, such as a country or region.
- 5. To receive money or something else of value in return for work or effort.
- 6. A detailed financial plan, usually for a specific period, that outlines expected income and planned expenditures, serving as a tool for managing financial resources.
- 9. The flow of money or its equivalent received by an individual, household, or organization over a period of time, typically as payment for labor, goods sold, or returns on investments.
- 13. An individual or organization that creates or provides goods or services for sale in a market, utilizing resources and labor in the production process.
- 14. of production: The resources (like land, tools, factories) used to produce goods and services.
- 16. The process of determining the monetary value at which a good or service will be offered for sale, taking into account costs, competition, and consumer willingness to pay.
- 17. The act or power of selecting between different options.
Down
- 1. A place, either physical or virtual, where buyers and sellers interact to exchange goods and services, and where prices are determined by the forces of supply and demand.
- 2. An individual or organization that purchases goods or services from a seller or business.
- 3. An individual who takes the initiative and risk to start and manage a new business venture, often innovating and creating new products, services, or processes.
- 4. Anything generally accepted as a medium of exchange, a measure of value, or a means of payment.
- 7. The quantity of a specific good or service that consumers are willing and able to purchase at a particular price and during a specific period.
- 8. To utilize goods and services to satisfy personal or business wants and needs, often involving the direct use or depletion of the item or service.
- 10. (Supply): The quantity of a specific good or service that producers are willing and able to make available for sale at a particular price and during a specific period.
- 11. The social science that studies how individuals, businesses, and governments make decisions about allocating scarce resources to satisfy their unlimited wants and needs.
- 12. A situation in a market where the quantity of a good or service supplied by producers exceeds the quantity demanded by consumers at a given price, resulting in unsold inventory.
- 15. To pay out money to buy goods or services, or to use time doing something.