Across
- 4. an economic system in which individuals own and operate the majority or businesses
- 8. is an example of a command economy
- 10. the type of resources that include data that tells managers how effectively the other resources are being used
- 12. a high point in the business cycle where there is economy is at its strongest
- 16. an economy that exhibits elements of capitalism and socialism
- 17. the quantity of a product that buyers are willing to purchase at various prices
- 18. the activity that organizes land and natural resources, labor and capital
- 19. (two words)the recurrence of periods of growth and recession in a nations economic activity
- 20. the time and effort used to produce goods and services
- 21. The money, facilities, equipment, and machines used in operations
- 23. the type of resource that includes money required to pay employees and for purchase of materials
Down
- 1. two or more consecutive three-month periods of decline in a country's GDP
- 2. the money that a business keeps after deducting expenses from sales revenue
- 3. the money that a business pays out due to operational costs
- 5. (two words) the price of any product at which the quantity demanded is exactly equal to the quantity supplied
- 6. a more severe recession that lasts longer than a typical recession
- 7. an economic system in which businesses and individuals decide what to produce and buy
- 8. an economic system in which the government decides what good and services will be produced
- 9. the type of resources used in manufacturing processes as well as buildings and machinery
- 11. the quantity of a product that producers are willing to sell at various prices
- 13. a low point in the business cycle where there is minimal economic activity
- 14. the money that a business takes in through sales
- 15. the type of resources that furnish their labor to the business in return for wages
- 22. elements used in the production process to make products