Across
- 4. to make decisions according what is believed to be the best combination of cost and benefits
- 5. physical objects such as food, clothing, and furniture, that can be purchased
- 6. all the natural resources on or under the ground
- 8. _________ economy. The government makes all the economic decisions
- 9. things such as food, clothing, and shelter that are necessary for survival
- 10. the government payment that helps cover the cost of an economic activity that can benefit the public as a whole
- 11. a situation that exist when there are not enough resources to meet human wants
- 13. the benefit or satisfaction gained from using a good or service
- 14. the combination of vision, skill, ingenuity, and willingness to take risks that is needed to create and run new businesses
- 16. all the resources people make and use to produce and distribute goods and services
- 18. _________ economy. Economy that has elements of traditional, command , and market economies
- 20. a situation in which increases in production costs push up prices
- 22. _______ economy. Economic decisions are made by individual choice
- 23. the study of how individual and societies satisfy their unlimited wants with limited resources
- 25. a person who buys goods or services for personal use
- 26. all the human time, effort, and talent used to produce goods or services
- 27. the person who does not pay for goods or services but benefits from it when it is provided
- 28. the alternative someone gives up when making an economic decision
- 29. __________ economy based customs and beliefs of the people
- 30. the financial gain a seller makes from a business transaction
Down
- 1. the study of the behavior of individual players
- 2. goods and services provided by the government and consumed by the public
- 3. a simplified representation of economic activities, systems, or problems
- 7. the condition in which economic resources are not being used to their full potential
- 12. a benefit offered to encourage people to act in a certain way
- 15. the condition in which economic resources are used to produce the maximum amount of goods and services
- 17. a person who makes goods or provides services
- 19. the desire that can be satisfied by consuming a good or service
- 21. numerical data
- 24. the study of the behavior of the economy as a whole