Across
- 2. this term deals with what you chose to give up when making a choice between two things. (2 words).
- 4. a _______________ resource refers to items such as buildings, tools, money, etc... that are used in the production of other goods.
- 5. The study of the manufacture, distribution, sale, and use of goods and services. Resource Management.
- 8. True or False: If one factor of production is failing, a business will struggle.
- 10. Water, soil, and oil are all examples of _______________ resources.
- 11. low demand and a high supply means the price of a product will go ___________________.
- 15. another term for a business owner or a person who manages the factors of production.
- 17. many stores attempt to convince consumers to buy their goods or services by offering _______________, such as coupons or rewards points.
- 18. the amount of money that a company makes after all the costs of running the business have been paid is called ______________.
- 19. Needs or wants: air pods, video games, iPhone.
Down
- 1. Economics is based on the idea that people make many decisions on how to manage their __________.
- 3. supply and demand help determine the __________ of a good
- 4. Someone who uses goods or services.
- 6. the wage or salary a person earns, health benefits, and paid vacation days are all examples of _______________.
- 7. The four factors of production are natural resources, capital resources, _____________ resources and an entrepreneur.
- 9. True or False: money is universal, the exact same money is used everywhere around the globe.
- 12. true or false Money is a measure of value, a way to store wealth, and a medium of exchange.
- 13. does an electrician fixing a light at your house provide a good or a service?
- 14. Needs or wants: Food, shelter, water.
- 16. this term describes when there are not enough goods and services to satisfy the unlimited wants and needs of people.
- 19. Money that is paid to a worker for the amount of time that has been worked is called a ________________.