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Sports Economics
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Barter:Exchange of items of value without monetary involvement
Monopoly:One business has sole control over a specific area of the market.
Contraction:During this phase the economy slows down, unemployment increases and consumer spending lessens.
Expansion:During this phase there is a growing demand for goods and services.
Commodity:Economic term for a good.
Consumer:The person who uses a product.
Shortage:Occurs when demand exceeds supply.
Surplus:Occurs when supply exceeds demand.
Free Enterprise:Economic system in which people have the right to make their own economic decisions.
Entrepreneur:A person who invents and markets a new product or service.
Equilibrium:Point at which the demand for an item is equal to the supply of said item.
Economics:The study of how a society utilizes its limited resources to satisfy its needs and wants.
Producers:One of the two participants in a free enterprise economy.
Demand:is influenced by how badly consumers want a good or service and how much money they are willing to pay.
Supply:The amount of goods or services offered for sale at various price points.
Sports Economics
Across:3. | A person who invents and markets a new product or service. | 4. | Point at which the demand for an item is equal to the supply of said item. | 5. | During this phase there is a growing demand for goods and services. | 9. | One business has sole control over a specific area of the market. | 10. | Economic term for a good. | 11. | Occurs when supply exceeds demand. | 13. | Exchange of items of value without monetary involvement | 14. | During this phase the economy slows down, unemployment increases and consumer spending lessens. |
| | Down:1. | Economic system in which people have the right to make their own economic decisions. | 2. | The amount of goods or services offered for sale at various price points. | 4. | The study of how a society utilizes its limited resources to satisfy its needs and wants. | 6. | Occurs when demand exceeds supply. | 7. | The person who uses a product. | 8. | is influenced by how badly consumers want a good or service and how much money they are willing to pay. | 12. | One of the two participants in a free enterprise economy. |
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© 2015
PuzzleFast.com, Noncommercial Use Only
Sports Economics
Across:3. | A person who invents and markets a new product or service. | 4. | Point at which the demand for an item is equal to the supply of said item. | 5. | During this phase there is a growing demand for goods and services. | 9. | One business has sole control over a specific area of the market. | 10. | Economic term for a good. | 11. | Occurs when supply exceeds demand. | 13. | Exchange of items of value without monetary involvement | 14. | During this phase the economy slows down, unemployment increases and consumer spending lessens. |
| | Down:1. | Economic system in which people have the right to make their own economic decisions. | 2. | The amount of goods or services offered for sale at various price points. | 4. | The study of how a society utilizes its limited resources to satisfy its needs and wants. | 6. | Occurs when demand exceeds supply. | 7. | The person who uses a product. | 8. | is influenced by how badly consumers want a good or service and how much money they are willing to pay. | 12. | One of the two participants in a free enterprise economy. |
| |
© 2015
PuzzleFast.com, Noncommercial Use Only