Across
- 1. determined by what customers are willing to pay and production costs
- 3. includes money, tools, buildings, and equipment needed for production of products and services
- 4. purchase goods and services to satisfy their own needs and wants
- 8. determined by the multiplier effect, meaning the portion of money spent by visitors on local goods and services that is in turn spent locally by employer and employees
- 12. refers to the individual who takes the risk of owning and operating a business
- 13. goods, services, or ideas used to satisfy customers needs
- 15. human resources, includes the employees of a business who complete the work
- 16. using resources in a way that results in the greatest profit
- 18. marketing the act of using sports as a platform to market products or services and increase sales or the process of the marketing and selling of the sports property itself
- 19. natural resources, anything in its natural state
- 20. relationship between the quantity of a product that producers are willing and able to provide and price
Down
- 2. the study of how goods and services are produced, distributed, and consumed
- 5. study of economics of the entire society
- 6. the total of new spending resulting from an event
- 7. the first step towards understanding consumer groups
- 9. relationship between the quantity of a product that consumers are willing and able to purchase
- 10. businesses that use resources to develop products and services and provide them to customers
- 11. study of relationships between individual producers and consumers
- 14. ensures that a product or service is available where a consumer needs it
- 17. physical characteristics of a good or service