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Vocabulary
18
Capital Resources : Goods and money used in the production of goods and services.
Command Economy : Economics system in which the government own resources and dictates what is produced.
Competitors : Businesses that offer the same goods to the same customers.
Consumes : Buys and uses the goods to the same customers.
Economic Decision : Making:Process of choosing which needs or wants will be satisfied.
Economic Resources : Means from which goods and services are produced.
Economics : Study of the decisions made for production, distribution, and consumption of goods and services to satisfy needs and wants.
Entrepreneurial Resources : The initiative to combine natural, human, and capital resources.
Free Enterprise : Economic system which freedom to consume and produce goods and service exists.
Freedom of Choice : Opportunity to make choices of goods and services and accept consequnces of decisions.
Goods : Item purchased to satisfy needs and wants.
Human Resources : People using efforts, knowledge, and skills at work to produce goods and services.
Market Economy : Goods and services are owned and controlled by the people.
Market Price : The point where supply and demand are equal.
Marketplace : Anywhere goods and services exchange hands.
Mixed Economy : Combines elements of the comand and market economies.
Natural Resources : Raw materials supplied by nature.
Needs : Necessities required for living.
Opportunity Cost : Value of the next best alternative that is forgone to produce or obtain another product.
Private Property : Right to purchase, use, or discard any items of value.
Vocabulary
Across:5. | Raw materials supplied by nature. | 6. | Economics system in which the government own resources and dictates what is produced. | 8. | Means from which goods and services are produced. |
| 14. | Buys and uses the goods to the same customers. | 18. | The initiative to combine natural, human, and capital resources. |
| | Down:1. | Economic system which freedom to consume and produce goods and service exists. | 2. | The point where supply and demand are equal. | 3. | Right to purchase, use, or discard any items of value. | 4. | Value of the next best alternative that is forgone to produce or obtain another product. | 7. | Item purchased to satisfy needs and wants. | 9. | Goods and services are owned and controlled by the people. | 10. | People using efforts, knowledge, and skills at work to produce goods and services. |
| 11. | Study of the decisions made for production, distribution, and consumption of goods and services to satisfy needs and wants. | 12. | Making:Process of choosing which needs or wants will be satisfied. | 13. | Businesses that offer the same goods to the same customers. | 15. | Anywhere goods and services exchange hands. | 16. | Combines elements of the comand and market economies. | 17. | Necessities required for living. |
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© 2013
PuzzleFast.com, Noncommercial Use Only
Vocabulary
Across:5. | Raw materials supplied by nature. | 6. | Economics system in which the government own resources and dictates what is produced. | 8. | Means from which goods and services are produced. |
| 14. | Buys and uses the goods to the same customers. | 18. | The initiative to combine natural, human, and capital resources. |
| | Down:1. | Economic system which freedom to consume and produce goods and service exists. | 2. | The point where supply and demand are equal. | 3. | Right to purchase, use, or discard any items of value. | 4. | Value of the next best alternative that is forgone to produce or obtain another product. | 7. | Item purchased to satisfy needs and wants. | 9. | Goods and services are owned and controlled by the people. | 10. | People using efforts, knowledge, and skills at work to produce goods and services. |
| 11. | Study of the decisions made for production, distribution, and consumption of goods and services to satisfy needs and wants. | 12. | Making:Process of choosing which needs or wants will be satisfied. | 13. | Businesses that offer the same goods to the same customers. | 15. | Anywhere goods and services exchange hands. | 16. | Combines elements of the comand and market economies. | 17. | Necessities required for living. |
| |
© 2013
PuzzleFast.com, Noncommercial Use Only