Across
- 6. social science dealing with how people satisfy seemingly unlimited and competing needs and wants with the careful use of scarce resources
- 7. good intended for final use by consumers other than businesses
- 10. work or labor performed for someone; economic product that includes haircuts, home repairs, and forms of entertainment
- 12. covering many or all areas
- 14. ability or capacity of a good or service to be useful and give satisfaction to someone
- 16. good that lasts for at least three years when used regularly
- 18. monetary value of all final goods, services, and structures produced within a country’s national borders during a one-year period
- 19. tangible economic product that is useful, transferable to others, and used to satisfy wants and needs
Down
- 1. fundamental economic problem facing all societies resulting from a combination of limited resources and people's virtually unlimited needs and wants
- 2. capable of being passed from one person to another
- 3. apparent contradiction between the high value of a nonessential item and the low value of an essential item
- 4. basic requirement for survival
- 5. not physical; something that cannot be touched
- 8. item that wears out, is used up, or lasts for fewer than three years when used regularly
- 9. sum of tangible economic goods that are scarce, useful, and transferable from one person to another; excludes services
- 11. tool, equipment, or other manufactured good used to produce other goods and services; a factor of production
- 13. monetary worth of a good or service as determined by the market
- 15. something we would like to have but is not necessary for survival
- 17. gradual collection of goods