Across
- 2. the amount of a good or service that consumers are willing and able to buy at a certain price
- 5. a government rule or control
- 7. the amount of a good or service that producers are willing and able to sell at a certain price
- 8. a person who takes a risk to produce goods and services in search of a profit; may establish a business according to any 3 types of organizational structures
- 9. the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets
- 10. Food, clothing, water, air, shelter. Anything you need to survive.
Down
- 1. Land, money, equipement, machines, labor, tools, and everything that is used to make something else (goods and services)
- 3. things that we want like entertainment, vacations, and items that we would like to have to make life comfortable and enjoyable
- 4. one of the most fundamental principles in economics. Supply and Demand determines price and in theory will allocate resources in the most efficient way possible.
- 6. earnings after all expenses have been paid
- 7. The inability to satisfy all wants the same time; all resources and goods are limited choices must be made