Across
- 2. - It is the process of making goods and services to satisfy people's needsand wants.
- 5. - It involves a sacrifice that must be made to obtain a desired product or experience.
- 6. - The willingness and ability of a consumer to buy goods and services at a specific price.
- 8. - These are activities provided by other people, such as teachers or barbers.
- 13. - This law states that, as the price of a good or service increases, the quantity supplied increases; and as the price decreases, the quantity supplied decreases— ceteris paribus (all other things being equal).
- 14. - This occurs when there is too much of one good or service.
- 15. - It is the process of creating a plan for how to spend your money.
Down
- 1. - This occurs when there is not enough of a good or service.
- 3. - Anything required for human survival.
- 4. - A situation in which something is not easy to find or get.
- 7. - A medium of exchange, a measure of value, or a means of payment for goods and services.
- 9. - It is the act of using goods and services to satisfy our needs and wants.
- 10. - The number of products that a producer or seller is willing and capable of providing to buyers.
- 11. - These are things that a person would like to have but are not needed for survival.
- 12. - Items that are usually (but not always) tangible, such as a pen and an apple.