Across
- 2. What is a basic requirement for survival, such as food, water, and shelter, referred to in economics?
- 3. What is the entity responsible for setting and enforcing economic policies in a planned system?
- 5. In economics, what term refers to the quantity of a good or service that producers are willing to offer at a given price?
- 7. The act of providing a skill or labor to meet a need or want
- 9. What is the term for an economic system where the government controls production and distribution?
- 10. What economic system combines elements of both planned and free systems, with a mix of government intervention and market forces?
- 11. The benefits foregone when one choice is made over another
Down
- 1. In economics, what term refers to a desire for a good or service that is not necessary for survival?
- 4. The factors of production that are used to create goods and services
- 6. What term refers to the quantity of a good or service that consumers are willing and able to purchase at a given price?
- 7. What is the concept that refers to the limited availability of resources in relation to unlimited human wants and needs?
- 8. Which economic system is characterized by minimal government intervention and a focus on individual choice and competition?