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Vocab
20
CapitalResource:goods and money used in the production of goods and services
CommandEconomy:Economics system in which the government owns resources and dictates what is produced
Competitors:Businesses that offer the same goods to the same services
Consumer:Buys and uses the goods and services
EconomicDecisionMaking:Process of choosing which needs or wants will be satisfied
EconomicResources:Means from which goods and services are produced
Economics:Study of the decisions made for production, distrubution and consumption of goods and services
MarketPrice:the point where supply and demand are equal
Marketplace:Anywhere goods and services exchange hands
Goods:Items purchased to satisfy needs and wants
Consumer:Buys and uses the goods and services
Needs:Necessities required for living
Scarcity:Condition that exsists when wants or needs exceed resources available
Naturalresources:Raw materials supplied by nature
PrivateProperty:right to purchase, use, and discard of things of value
MixedEconomy:Combines elements of the command and market economies
Tradeoff:Process of giving up something for gaining something else
MarketEconomy:Goods and services are owned and controlled by the people
Humanresources:People using efforts, knowledge, and skills at work to produce goods and services
Wants:goods that are purchased to add comfort or pleasure to life
Vocab
Across:2. | Means from which goods and services are produced | 7. | Process of choosing which needs or wants will be satisfied | 10. | Anywhere goods and services exchange hands | 14. | Necessities required for living | 15. | Items purchased to satisfy needs and wants |
| 16. | Condition that exsists when wants or needs exceed resources available | 18. | Businesses that offer the same goods to the same services | 19. | People using efforts, knowledge, and skills at work to produce goods and services | 20. | the point where supply and demand are equal |
| | Down:1. | Study of the decisions made for production, distrubution and consumption of goods and services | 3. | goods and money used in the production of goods and services | 4. | Combines elements of the command and market economies | 5. | Economics system in which the government owns resources and dictates what is produced | 6. | right to purchase, use, and discard of things of value | 8. | Raw materials supplied by nature |
| 9. | goods that are purchased to add comfort or pleasure to life | 11. | Process of giving up something for gaining something else | 12. | Goods and services are owned and controlled by the people | 13. | Buys and uses the goods and services | 17. | Buys and uses the goods and services |
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© 2013
PuzzleFast.com, Noncommercial Use Only
Vocab
Across:2. | Means from which goods and services are produced | 7. | Process of choosing which needs or wants will be satisfied | 10. | Anywhere goods and services exchange hands | 14. | Necessities required for living | 15. | Items purchased to satisfy needs and wants |
| 16. | Condition that exsists when wants or needs exceed resources available | 18. | Businesses that offer the same goods to the same services | 19. | People using efforts, knowledge, and skills at work to produce goods and services | 20. | the point where supply and demand are equal |
| | Down:1. | Study of the decisions made for production, distrubution and consumption of goods and services | 3. | goods and money used in the production of goods and services | 4. | Combines elements of the command and market economies | 5. | Economics system in which the government owns resources and dictates what is produced | 6. | right to purchase, use, and discard of things of value | 8. | Raw materials supplied by nature |
| 9. | goods that are purchased to add comfort or pleasure to life | 11. | Process of giving up something for gaining something else | 12. | Goods and services are owned and controlled by the people | 13. | Buys and uses the goods and services | 17. | Buys and uses the goods and services |
| |
© 2013
PuzzleFast.com, Noncommercial Use Only