Across
- 2. willingness and ability for producers to offer goods or services
- 5. natural resources found above and below ground
- 8. study of the economy as a whole
- 11. goods services essential for living
- 12. physical object that can be purchased
- 13. Goods that the consumers demand more of when their income rises
- 14. consumer’s desire for good or service
- 16. when a change in price occurs, the demand changes drastically
- 17. a situation where two or more independent people try to gain business by offering the best deals
- 18. good or services that can be used in place of another to satisfy a customer
- 19. Person who chooses not to pay for goods or services but reaps the benefits
- 20. Goods that the consumers demand less of when their income rises
- 22. form of economic system where government owns some or all parts of production
- 25. place or situation in which people buy and sell goods and services
Down
- 1. when a change in price occurs, the demand change is minuscule
- 3. Law that states when prices of goods and services fall, consumers purchase more of it
- 4. person who makes good or offers a service
- 6. desire for good or service and ability to pay for it
- 7. study of individuals in an economy
- 9. for of economic system based on private ownership of production
- 10. offered benefit to entice consumers to purchase a good or service
- 15. person who buys goods and services
- 21. work one person preforms for another for payment
- 23. human time, effort, and talent that is used to create goods or services
- 24. financial gain from business transaction