Vocabulary of Economics

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Across
  1. 2. The necessary materials to create goods and services
  2. 4. The process of making a product
  3. 5. The value of wealth and resources within groups and communities
  4. 9. The governing body of a nation, state, or community
  5. 11. The needs and wants from consumers
  6. 12. An economic systems ideology that doesn't involve governments
  7. 14. An economic system that has no competition, as everyone works in their places that have been passed on through generations.
  8. 17. Where the exchange for goods and services takes place.
  9. 18. consumer goods (such as textiles, food, clothing, petroleum, and chemical products) that are only able to be used for a relatively short time before deteriorating or that are consumed in a single usage average household spending on nondurables.
Down
  1. 1. A person's regular occupation, profession, or trade and also the practice of making one's living by engaging in commerce.
  2. 3. a type of goods classified as items that have long periods between successive purchases.
  3. 6. An
  4. 7. The situation where producers that produce the same goods and services must be more appealing to consumers than other producers in order to gain profit.
  5. 8. goods that aren't specific objects, but are also exchanged the same as goods in the market.
  6. 10. An economic system in which the means of production are publicly owned and economic activity is controlled by a central authority.
  7. 13. Ones who consume goods
  8. 15. The three basic _ _ _ _ _ _ _ _ _
  9. 16. the product produced by producers