Across
- 2. Item that wears out, is used up, or last fewer than three years when used regularly
- 4. a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries.
- 8. an accumulation of valuable economic resources that can be measured in terms of either real goods or money value.
- 9. Tangible economic product that is useful, transferable to others, and used to satisfy wants and needs
- 10. Social science dealing with how people satisfy seemingly unlimited and competing needs and wants with the careful use of scarce resources
- 13. tangible assets such as buildings, machinery, and equipment used to produce consumer goods or services
- 14. Fundamental economic problem facing all societies resulting from a combination of limited resources and people's virtually unlimited needs and wants
- 15. Basic requirement for survival
Down
- 1. Good intended for final use by consumer businesses
- 3. Good that lasts for at least 3 years when used regularly
- 5. an act or use for which a consumer, firm, or government is willing to pay.
- 6. is the contradiction that, although water is on the whole more useful, in terms of survival, than diamonds, diamonds command a higher price in the market
- 7. a term used to determine the worth or value of a good or service.
- 11. is a measure of the benefit provided by a good or service to an economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit
- 12. Something we would like to have but not necessary for survival