Across
- 5. A concept that explains that all resources are in short supply
- 7. The number of deaths per 1000 people of the population that occur within 1 year
- 9. The next best alternative foregone
- 11. A building, site, practice or object that is important for a particular cultural group
- 12. Measures whether goods/services are becoming more or less expensive over time
- 16. Items that are used to create goods/services
- 17. The proportion of the population aged 15 or over that can read and write
- 18. Explains that people all have limited resources
- 20. Workers who help to produce goods & services
Down
- 1. Per person or head of the population
- 2. The total value of all goods and services produced within an economy in one year
- 3. How resources are used within an economy
- 4. The study of how resources are used within an economy
- 6. Products that consumers desire
- 8. Products that consumers cannot live without
- 10. The person who buys or uses a product
- 13. The Law of Demand states that "As the price of a good ___________________, demand for the good will increase"
- 14. The Law of Supply states that "As the price of a good increases, supply will ________________"
- 15. Resources that are found in the natural world
- 17. The average age that adults are likely to live until
- 19. A general rise in the price of goods/services within an economy