Across
- 3. something we would like to have but is not necessary for survival
- 4. Monetary worth of a good or service as determined by the market
- 5. Apparent contradiction between the high value of a nonessental item or the low value of a essential item
- 6. Tangible economic product that is useful, transferable to others, and used to satisfy needs
- 7. item that wears out, is used up or lasts for fewer than 3 years
- 9. Basic requirements for survival, including food, clothing, and shelter
- 12. Fundamental economic problem facing all societies resulting from a combination of scarce resources and people virtually unlimited needs and wants
Down
- 1. good consumers for final use by consumers other than businesses
- 2. Tool, equipment, or other manufactured goods used to produce other goods and services
- 8. work or labor performed by someone
- 10. good that lasts for 3 years that is used regularly
- 11. Social science dealing with how people satisfy seemingly unlimited and competing needs and wants with the careful use of scarce resources