Across
- 1. All natural resources used in production
- 3. paid by firms
- 4. All human contributions to production
- 5. factors that influence the PED
- 7. Productivity is the amount of output that can be produced with a given amount of resources
- 9. paid by consumers
- 12. Goods and services are guided solely by the interactions of a countries citizens and businesses. This means that there is little to no government intervention.
- 13. The extraction of raw materials from the earth
- 14. The person(s) who came up with the initial business idea
- 15. Where markets lead to inefficiency because the market, through demand and supply, fails to allocate resources in the best interests of society as a whole
Down
- 2. The division of labour occurs when a firm breaks up the production process and each worker specialises in one task
- 6. Increase in the level of output by a nation.
- 8. Converting raw materials into finished or semi-finished goods
- 10. Equipment used to aid production
- 11. Provision of a wide variety of services