Type
Crossword
Description

condition that results from not having enough resources to produce all the things we would like to have scarcity
The study of how people try to satisfy seemingly unlimited and competing needs and wants. economics
a basic requirement for survival need
something we would like to have want
tangible economic product good
work performed for someone service
land, labor, capital, and entrepreneurs factors of production
the value of the next best alternative given up opportunity cost
consumer rights were part of the a movement called consumerism
sum of people's skills, abilities,health, and motiviation human capital
learning a task very well specialization
where all of the factors of production are bought and sold factor market
market in which goods and services are bought and sold product market

Economics Review Crossword

Type
Crossword
Description

___________ factors of production four
_____________ resources natural
_______ capital human
_______ goods capital
business owners entrepreneurs
amount of money earned by a country in one year GDP
shortage due to unlimited wants and needs scarcity
investment in human capital education
a resource not easily replaced nonrenewable
_____ are tangible and services are not goods

Economic Terms Crossword

Type
Crossword
Description

The way a society organizes to produce, distribute, and consume goods and services. Economic System
Tradition determines how a society is organized to produce, distribute, and consume goods/services. Traditional
Individuals make most of the major decisions about production and distribution of goods and services Market
A central authority makes most of the major decisions about production and distribution of goods and services Command
Economic decisions are made by individuals, businesses, and government. Mixed
The worth of a good or service that is determined by the total cost of economic resources that went in to producing and providing a good or service. Value and Price
The amount of a resource, good, or service sellers are willing to sell at possible prices. Supply
How much people want of a good or service at a certain price at a certain time. Demand
People have desires that can be satisfied with goods or services Economic Wants
Human, natural, and capital resources used to produce a good or service. Economic Resources
Wants are unlimited and resources are limited. Scarcity
Goods and services are produced in better quality, quantity, and speed when someones focuses on one particular task. Specialization
People, businesses, and nations depend on others to produce their goods. Interdependence
Any place that allows buyers and sellers to trade goods and services Marketplace
Something that is used to buy and sell goods or services. Currency

Economic vocab Crossword

Type
Crossword
Description

Limited quantities of resources to meet unlimited wants. Scarcity
Resources that are used to make ALL goods and services. Productive resources
Food, air, and shelter and attention we desire. Wants & needs
The most desirable alternative given up as the result of a decision. Opportunity cost
An alternative we sacrifice when we make a decision. Trade-off
Natural resources that are used to make goods Land
The effort that a person devotes to a task for which that person is paid. Labor
Any human-made resource that is used to produce other goods and services. Capital
The process of designing, launching, and running a new business. Entrepreneurship
use an economy's resources. Possibilities curve
choices decision making
Satisfaction or utility that a person receives from consuming an additional unit of a good or service. Marginal benefit
The cost of producing one more unit of a good. Marginal costs
The concentration of the productive efforts of individuals and firms on a limited number of activities. Specialize
elimination of government power in a particular industry, usually enacted to create more competition within the industry. Deregulation
the state or quality of producing something, especially crops. Productivity
Situation in which allocation of goods and service is not efficient Market failure
theoretical socially-enforced constructs in economics for determining how a resource or economic good is used and owned. Property rights
service that is provided without profit to all members of a society, either by the government or a private individual or organization Public goods
product that must be purchased to be consumed, and its consumption by one individual prevents another individual from consuming it. Private goods
Where the government, rather than the free market, determines what goods should be produced Command system
economic system consisting of a mixture of either markets and economic planning, public ownership and private ownership, or free markets and economic interventionism. Mixed system

fundamentals of economics Crossword

Type
Crossword
Description

a steady long term increase in real GDP economic growth
the loss of potential gain from other alternatives when one alternative is chosen opportunity cost
goods used to produce more goods capital goods
a person who uses a good or service consumers
another name for a centrally planned govt. comand economy
there is no such thing as a free lunch TINSTAAFL
give up one benefit to gain another trade-off
the rivalry among sellers trying to achieve such goals as increasing profits competition
a general increase in prices across an economy inflation
a risk-taker in search of profits entrepreneur
a income that does not increase even when prices go up fixed income
study of how people satisfy unlimited wants through careful use of realtive scarce resource economics
physical objects that somone produces goods
the power of consumers to decide what gets producded consumer sovereignty
a financial gain profit
economic system that relies on habit traditional economy
any government system that provides monetary assistance to people with an inadequate or no income. social security
gross domestic product GDP
how much it is worth in money value
the accumulation of products that are tangible, scarce, useful, and transferable from one person to another wealth
mental/physical work or production labor
shortage scarcity
an economy in which prices and wages are determined mainly by supply and demand market economy

Introduction to Business Ch 1 & 2 vocabulary Word Search

Type
Word Search
Description

mixed economy
command economy
equilibrium price
demand
supply
price
market economy
economic systems
economics
entrepreneur
entrepreneurship
entrepreneurial resources
capital resources
;abor resources
natural resources
factors of production
scarcity
consumer
market research
competition
profit
business
resources
services
goods
needs
wants

Introduction to Business Word Search

Type
Word Search
Description

mixed economy
command economy
supply
entrepreneurial resources
economic systems
demand
price
market economy
market research
economics
capital resources
natural resources
scarcity
business
competition
resources
goods
needs
wants
services
profit
consumer

Economics Scarcity Word Search

Type
Word Search
Description

capital
capital good
consumer good
division of labor
durable good
economic growth
economic interdependence
economics
entrepreneur
factor market
factors of production
good
gross domestic product
human capital
labor
land
market
need
nondurable good
paradox of value
product market
productivity
scarcity
service
specialization
utility
value
want
wealth

Econ Chapter1 Crossword

Type
Crossword
Description

Fundamental economic problem facing all societies that results from a combination of scarce resources and peoples virtually unlimited wants Scarcity
b Factors Of Production
c Land
c Labor
d Capital
e Financial Capital
f Entrepreneur
h Economics
h Tradeoffs
s Opportunity Cost
v Service
g Consumption
j Value
h Paradox Of Value
fhgffgdtesdfdffgff Specialization
jhhjh Human Capital
hhhjh Need
hgh Want
jhjh Free Product
ghg Production
ghg Economic Product
gfd Good
aew Consumer Good
Aaa Capital Good
hy Durable Good
hu Consumer
hgd Utility
hgf Wealth
hgfd Production
hgfd Productivity

Needs, Wants, Budgets Crossword

Type
Crossword
Description

things you must have to live needs
things you would like to have wants
when there is not evough of something scarcity
there is a lot of something abundance
the value of something opportunity cost
what something is worth value
things that people make or grow goods
work that one person does for another service
a person who makes a product producer
people who buy goods and services consumers
computes, tools, and money needed to produce goods and services capital resources
money a business has left over after expenses are paid profit

Microeconomics Crossword

Type
Crossword
Description

A diagram used to represent the monetary transactions in an economy. Circular Flow Diagram
The market place in which final goods or services are offered for purchase by consumers, businesses and public sector. Product market
A type of business entity that's owned and run by one person. Sole proprietorship
A type of business owned or run by two owners. Partnership
A financial gain. Profit
A company or group of people authorized to act as single entity. Corporation
A state of limited competition, in which a market is shared by a small number of producers. Oligopoly
Only one market gives services Monopoly
A type of market that sells similar products. Monopolistic Competition
The part of economics concerned with single factors and the effects of individual decisions. Microeconomics
A market where a business can go and purchase resources to produce goods and services Resource Market
Buyers will exchange with sellers when they want to purchase goods or services from sellers. Medium of exchange
All else equal, an increase n price results in an increase in quantity supplied Law of Supply
All other factors being equal, as the price of a good or service increase Law of Demand
Price of good or service of which quantity supplied is equal to quantity demand Market clearing price
A measure used in economics to show the responsiveness of the quantity demanded of a good or service to change in its price Price elasticity of demand
A measure used in economics to show the responsiveness or elasticity of the quantity supplied of a good or service to a change in price. Price elasticity of Supply
A market that has a broad range of cometitors who are selling identical products Pure Competition
Something that motivates or encourages someone to do something Incentive
An excess of production Surplus