Across
- 5. factor of production- goods/machinery that increase production
- 7. factor of production- putting the other three factors together to create a product or service
- 10. a person who consumes products/services- ___ Perspective on demand curve
- 11. a tangible product you can purchase
- 14. an intangible act of assistance
- 15. the price that balances quantity supplied and quantity demanded
- 17. Demand/Supply ____- measurement of supply and demand on a graph
- 19. Demand/Supply ____- measurement of supply and demand in a table
- 20. as price increases, quantity supplied increases
Down
- 1. factor of production- people working on your product/service
- 2. Limited quantities of resources to meet unlimited wants
- 3. when the demand/supply curve increases, the curve shifts _____
- 4. factor of production- raw materials/agriculture
- 6. the cost of the next best alternative
- 8. when supply outnumbers demand
- 9. how society manages its scarce resources through choices and decisions
- 12. when demand outnumbers supply
- 13. when the supply/demand curve decreases, the curve shifts ____
- 16. a place where buyers and sellers exchange goods
- 18. as price increases, quantity demanded decreases
- 19. a person who sells a product/service- ____ Perspective on supply curve