Across
- 4. a business who employ workers to produce goods and services
- 7. a person who makes and sells things for a profit
- 9. allocation the way we distribute scarce resources to produces and consumers
- 11. the higher the price that a good or service can be sold for, the higher the quantity that suppliers are willing to produce
- 12. the amount of money earned by a business after all of its expenses have been paid for
- 14. a person who buys things to use
- 15. the amount of money that a worker is paid based on the work that they provide
- 16. the general increase in prices of goods and services
Down
- 1. a rival business who makes products in the same market
- 2. The total value of goods and services produced in a country over a year
- 3. when prices rise, the quality demanded decreases and when prices fall, the quality demanded increases
- 5. the exchange of goods and services among buyers and sellers
- 6. the study of how people and society use resources to satisfy their needs and wants
- 8. flow model illustrates the interdependent relationship between business and consumers in a market economy
- 10. mechanism the way price can affect the supply and demand of goods and services
- 11. the problem of people having unlimited wants and needs but limited resources to support those needs and wants
- 13. money that the government collects from the public to pay for public goods and services
- 17. the skills knowledge and effort provided by a worker