Across
- 2. Risk-taking individual in search of profits
- 5. market where goods and services are bought and sold
- 9. contradiction between the high monetary value of nonessential item and the low value of an essential item
- 11. market where the factors of production are bought and sold
- 12. basic requirement for survival
- 14. sum of tangible economic goods that are scarce, useful, and transferable from one person to another
- 15. mechanism that allows buyers, and sellers to come together
- 16. social science dealing with how people satisfy seemingly unlimited and competing wants with the careful use of scarce resources
- 17. The basic Problem in Economics
- 18. Dollar value of all final goods, services, and structures produced in a country
- 19. ability of a good or service to be useful
- 21. a good that wears out for at least three years
- 23. good intended for final use by consumers
- 24. increase in a nations total output of goods and services
- 25. Natural resources
Down
- 1. measure of the amount of output produced
- 3. something we would like to have but is not necessary for survival
- 4. monetary worth of a good or service as determined by the market
- 6. Productive Resources
- 7. tools, equipment, and factories used in the production of goods and services
- 8. work or labor performed by someone
- 10. sum of peoples skills, abilities, health, knowledge and motivation
- 13. a good that wears out for at least three years
- 20. people with all their efforts, abilities and skills
- 22. tangible economic product that has use