Across
- 3. goods People buy instant noodles when their income is low, but buy higher quality food when they can afford it. What are the instant noodles considered in this situation?
- 4. production: Elijah works in a factory to put different materials into the economy, what is this considered?
- 5. This is when people are willing to buy different services or products at a certain price point.
- 7. This person has complete control over his/her business
- 9. A person goes to McDonalds and purchases a happy meal, What is this person?
- 12. Raise in unemployment and fall in income.
- 14. system Where buyers and sellers meet to trade goods and services
- 15. This is when the economy is shared between businesses and the government
- 17. Jamal owns a small portion of Tesla, what is another word to describe what Jamal has
- 19. Jamal wants to spend money on goods for personal enjoyment, what is this?
- 21. This states that as the price of a good or service rises, the quantity supplied of that good or service also increases and vice versa.
- 23. Draymond goes to the bank to get a loan for a house, the bank gives him the money and in return he needs to pay what?
- 24. Someone is currently making a new car to sell, what are they considered?
- 25. This is when multiple businesses rely on each other
- 27. price index: This measures how the cost of everyday items changes over time. It helps gauge inflation.
Down
- 1. Jamal buys a business of a company with the expectation that he gets ROI. What is this considered?
- 2. Bartholmew wants to make his business bigger by generating more profit and revenues, what is this considered?
- 6. This system is mostly used in rural areas and uses techniques such as subsistence farming, hunting, fishing, and gathering.
- 8. good: Elijah buys a printer, but the printer needs a cartridge. What is the cartridge considered?
- 10. This is when prices increase over time
- 11. This is when there is only one type of product or service, helping the business become specialized in this area.
- 13. This causes the stock market to fall
- 16. This is a market where you can buy long-term investments, such as stocks or bonds.
- 17. The number of services or goods a business can give to people at a certain cost/price
- 18. This is when as the prices get higher, people tend to not want that particular product anymore.
- 19. confidence This measures how consumers feel about the state of the economy
- 20. The price of coffee increased so people started buying tea instead. What can tea be considered in this situation?
- 22. when a company is at its highest point of succession
- 26. When supply and demand cross, as a result the prices become stable