Across
- 2. It is the point in the business cycle between an economic expansion ends and a contraction begins. It normally occurs when there is an increase in output, demand income, investments, employment, standard of living, prices and profit. The point is known as the ____ in the business cycle?
- 3. Tangible items sold for a profit.
- 4. Goods Goods that satisfy the same demand.
- 6. Resources Land, Labour Capital these are all classified as ________ _________?
- 8. The icebox is ________ because refrigerators are now more common and can be found in almost every household.
- 9. This occurs when demand peaks and starts to decline, which leads to a decrease in investments, the stock market falls, an increase in unemployment and production cutbacks. What is this called?
- 12. The process of creating and/or selling products and/or services that satisfy customer demands and/or desires on a profit-making basis
- 13. Shelter is a ____, as it is a necessity to survive.
- 18. Economy The ___________ Economy is one that has been following the same rule and format, with time-honoured practices, passed down for generations as it is often family and/or tribe/group based.
- 19. Goods An item which can be seen or touched but is not necessary for survival.
- 20. Actualization An artist that is currently not profiting from his art still continues to paint because it is fulfilling and brings him happiness. What is this called?
- 22. Goods Goods purchased and used together. Their demand and price moves together as well. Ex. If the demand for Shampoo has increased so will the demand for conditioner.
Down
- 1. People that make/provide goods and services to sell for a return.
- 2. Needs A human being needs the following things for survival; Food, water, shelter, and clothing. What level on the Maslow’s Hierarchy is this a part of?
- 5. Business Cycle Alternating periods of expansion and contraction caused by changes to the real GDP.
- 7. Robux is the online game currency of the game Roblox. It is __________ because it is not a physical thing.
- 10. Activities/actions/benefits/ provided for sale. They are intangible.
- 11. Supplied The specific point on the line that represents the Quantity Supplied at a specific price
- 14. Needs Acceptance, Inclusion, Affection, Love, Belonging, Care. These are all a part of which level of the Maslow’s Hierarchy?
- 15. Demanded The specific point on the line that represents the quantity demanded at a specific price.
- 16. Someone who uses/consumes the goods purchased.
- 17. Joe desires the latest pair of Jordans, although he just bought a pair 6 months ago. This is non-essential, therefore it is a ____.
- 19. of Demand As the price of Ice Cream increases, the demand for it decreases. As the price of Ice Cream decreases, the demand for it increases. It is a negative, inverse relationship called The ____ ___ ________.
- 21. of Supply As the price of Jordans increases, the more Nike wants to sell the product. As the price of Jordans decreases, the less Nike wants to sell. This is a positive relationship called The _____ ___ ______.
- 22. Sarah asks her husband Kevin to purchase some penne pasta. Kevin will not be eating the pasta but is the one purchasing it for Sarah. What is he called?