Across
- 2. The laws, institutions and common practices that help a country determine how to use its resources to satisfy as many of its people's needs and wants as possible.
- 4. A factor of production that refers to the machinery factories warehouses and equipment used to produce goods and services.
- 5. Those goods or services that an economy produces to satisfy human needs.
- 8. Canadian Economic Goal concerned with an increase in an economy's total production of goods and services.
- 9. Physical resources that are necessary for production and are visible.
- 10. Political Economic system characterized by private ownership of business and industry the profit motive and free markets.
- 13. The sacrifice of one resource or production choice for another.
- 15. The funds used to acquire real capital.
- 18. A factor of production comprising the physical and mental effort contributed by people to producing goods and services.
- 19. The contribution made by an owner manager or innovator who organizes land labour and capital to produce goods and services.
- 20. An economic system in which production decisions are made by the actions of buyers and sellers in the marketplace.
- 24. Goods such as tools or machinery used to produce consumer goods.
- 25. The value of benefit that must be given up to achieve something else.
- 26. Concerted messaging efforts used to influence thoughts and opinions by repeated emphasis distortion deception and misinformation.
- 27. A self-sustaining system in which many independent transactions in a society create distinct flows of money and products or services.
- 31. Resources that are necessary for production such as entrepreneurship knowledge and an environment for enterprise.
- 33. Term applied to the private ownership of productive resources, characteristic of a market economy.
- 34. Resources that are used to produce goods and services. Also called factors of production.
- 35. Political system characterized by a freely elected government that represents the majority of its citizens.
Down
- 1. Economic system predominantly featuring characteristics of a free market system but also incorporating some qualities of command economies.
- 3. A factor of production that includes all natural resources used in production.
- 4. - Canadian term for government owned land.
- 6. Political system in which a single person exercises absolute authority over an entire country.
- 7. Political system of the moderate left that calls for public ownership of the principal means of production to be achieved in a democratic and peaceful manner.
- 11. An economic system in which production decisions are made by government appointed central planners.
- 12. Political system on the extreme right combining a free market economy with non democratic form of government.
- 14. Canadian Economic Goal concerned with promoting optimal production targets and optimal use of the labour force.
- 16. Political system on the extreme left that calls for government or community ownership of the means of production.
- 17. A graphical representation of the production choices facing an economy.
- 21. The curve on a production possibilities graph representing the maximum numbers of two items that can be produced with a given amount of resources.
- 22. The study of the way society makes decisions about the use of scarce resources.
- 23. Trading of goods and services without the use of a monetary system.
- 28. The use of bare minimum of resources to achieve a desired end such as consumption.
- 29. An economic system in which production decision are determined by the practices of the past.
- 30. A firm's ability to maximize output from the resources available usually measured as the firm's output per worker.
- 32. To use limited resources efficiently in production.