Type
Crossword
Description

A basic condition that exist when unlimited wants exceed limited productive resources SCARCITY
Gifts of nature and natural resources LAND
The physical abilities and time of human beings available to produce goods and services LABOR
Things used to produce goods and services PRODUCTIVE RESOURCES
Things that make life easier or better WANTS
These are things necessary for survival NEEDS
This allocation strategy can be handled quickly and gives everyone who wants it an equal opportunity RANDOM SELECTION
This allocation strategy allows people to receive a resource if they are 1st inline 1ST COME 1ST 1ST COME 1ST SERVED
This allocation strategy allows resources to be distributed based on need or merit PERSONAL CHARACTERISTIC
This allocation strategy can be used to distribute resources to the person who wins CONTEST
The value of the next best alternative given up when we make a choice OPPORTUNITY COST
The available options we must choose from TRADE OFF
There is no such thing as a free lunch TINSTAAFL
Tools, machines and skills, knowledge and training of human beings CAPITAL RESOURCES
Wanting more of a good than producers are willing to make or can make so there is a short supply SHORTAGE
The government makes all the decisions COMMAND ECONOMY
To desire something and be able to pay for it DEMAND
Individuals have freedom to start businesses and people can make choices BUT government is involved for safety, regulations, law, and defense MIXED ECONOMY
Sending jobs overseas because we can get goods cheaper OUTSOURCE
The extra money you pay when you take out a loan INTEREST

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

Economics Chapter 1 and 2 Crossword Puzzle

Type
Crossword
Description

Decisions by an individual about what to do and what not to do Individual Choice
Anything that can be used to produce something else Resource
What you have to give up in order to get what you want Opportunity Cost
When you compare the costs with the benefits of doing something Trade Off
Decisions based on the additional benefit versus the additional cost Marginal Decisions
An economic situation when no individual would be better off doing something different Equilibrium
When everyone gets his or her fair share Equity
If the opportunity cost of producing the good is lower for that individual than for other people Comparative Advantage
When an individual can do an activity better than other people Absolute Advantage
A form of trade when people directly exchange goods or services that they have for goods or services that they want Barter

Economic Unit 1 Crossword

Type
Crossword
Description

when something is both desirable and limited scarcity
Studies the behavior of individuals within economy microeconomics
Decides what is brought and sold based on what is trending Consumer
A certain amount of product out of a given input output
When an individual/ country can produce at a lower opportunity cost than another comparative advantage
A certain amount of input to get a given product input
When an individual/ country can produce more than another using the same amount of resources absolute advantage
least costly production techniques are used to produce wanted goods and services productive efficiency
Illustrates the possible combinations of goods and services that can be produced by a single nation, firms, etc. ppf
The evaluation of an economy to determine if the system is meeting most if not all of our needs economic performance
Made so that the marginal benefit is greater than the marginal cost Rational decision
When firms buy productive resources from household resource markets
Moving from a command economy to a free/ mixed economy tradition
Both command and market; governments makes decision mixed economy
Individual producers and consumers determine what and how things are made market

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

Economics Chapter 3 Crossword

Type
Crossword
Description

the force that encourages people and organizations to improve their material well being Profit motive
The concept that everyone can compete in the marketplace Open opportunity
The concept of giving everyone the same legal rights Legal equality
The concept that people have the right and privilege to control their possessions as they wish Private property rights
this allows people to decide what agreements they want to enter into Free contract
This allows people to decide what and when they want to buy and sell, rather than forcing them to buy or sell at certain times or prices Voluntary exchange
The rivalry among sellers to attract customers while lowering costs Competition
A private organization that tries to persuade public officials to act or vote according to the interest of the group's members Interest group
requires companies to give consumers important information about their products Public disclosure laws
The concerns of the public as a whole Public interest
The study of the behavior and decision making of entire economics Macroeconomics
the studyof the economic behavior and decision making of small units such as individuals, families and businesses microeconomics
This part of the economy involves the transactions of the government Public sector
The part of the economy that involves the transactions of individuals and businesses Private sector
The total value of all final goods and sevices produced in a particular economy gross domestic product
a period of macroeconomic expansion followed by a period of contractioon, or decline Business cycle
someone who would not choose to pay for a certain good or service but would get the benefits of it anyway free rider
A situation in which the market, on its own, does not distribute resources efficiently - example of free rider Market failure
this is an economic side effect of a good or service that generates beneefits or costs to someone other than the person deciding how much to produce or consume Externality
an income level below that which is needed to support families or households Poverty threshold

Financial Literacy Terms Crossword

Type
Crossword
Description

one who takes risk and initiative to set up their own business entrepreneur
tax paid on business profits corporation tax
amount of pay you ear before any deductions are made gross pay
these are taken away from the tax amount you owe tax credit
the principle states that you cannot make a profit from insurance indemity
amount of pay you take home after all deductions net pay
an entrepreneur must be will to take this in order to set up a business risk
this principle state that you must tell the whole truth when applying for insurance utmost good faith
this type of checking account pay customers interest interest bearing
to designate oneself as the payee by signing a check endorse
a written order used to tell a bank to pay money from an account to a check holder check
Electronic Funds Transfer EFT
a check written to this person payee
not enough money in the account to cover the check insufficient funds
this type of account one person can make withdrawals single
this type of account are owed by more than one person joint
things that are necessary needs
things you would like to have wants
when you set money aside for a "rainy day" emergency funds
The amount of money you allocate to pay for items budget
everything you need, want or do requires what money
when you take money out of your bank account withdrawal
the amount of money you have available in your account balance
person identification number PIN
check returned to drawer's account and funds are withdrawn check clearing

Economics Chapter 2 Vocabulary Part 1 Crossword

Type
Crossword
Description

occurs when individual workers focus on single tasks, enabling each worker to become more efficient and productive specialization
the worker, firm, region, or country with the lowest opportunity cost of producing an output should specialize in that output law of comparative advantage
the ability to make something using fewer resources than other producers require absolute advantage
the laws, customs, manners, conventions, and other institutional underpinnings that encourage people to pursue productive activity rules of the game
an expansion of the economy's production possibilities, or ability to produce economic growth
each additional increment of one good requires the economy to give up successively larger increments of the other good law of increasing opportunity cost
producing the maximum possible output from available resources, meaning the economy cannot produce more of one good without producing less of the other good efficiency
an economic system shaped largely by custom or religion production possibilities frontier- shows the possible combinations of two types of goods that can be produced when available resources are employed efficiently traditional economy
an economic system in the process of shifting from central planning to competitive markets transitional economy
describes the U.S. economic system, where markets play a relatively large role market economy
an economic system that mixes central planning with competitive markets mixed economy
an economic system in which all resources are government-owned and all production is directed by the central plans of government pure command economy
an economic system with no government so that private firms account for all production pure market economy
the set of mechanisms and institutions that resolves the what, how, and for whom questions for an economy economic system
the doctrine that states that government generally should not intervene in the marketplace "let them do as they please" laissez faire
property owned by individuals or companies, not by the government or the people as a whole private property
an economic system characterized by private or corporate ownership of capital goods; investments that are determined by private decision rather than by state control; and determined in a free market free enterprise
to sell state-run firms to idividuals privatize
large farm leased from the state to groups of peasant farmers collective
requiring strict obedience to an authority, such as a dictator authoritarian
a political system characterized by a centrally planned economy with all economic and political power resting in the hands of the central government communism
a social and political philosophy based on the belief that democratic means should be used to evenly distribute wealth throughout a society socialism
the powers of the consumers to decide what gets produced consumer sovereignty
term economists use to describe the self-regulating nature of the marketplace invisible hand
the struggle among producers for the dollars of consumers competition
an expectation that encourages people to behave in a certain way incentive

Chapter 13 Crossword Puzzle

Type
Crossword
Description

The study of how people produce, distribute, and use goods and services Economics
People who but and sell goods and services Consumers
Individuals or businesses may buy and sell goods and services and set prices with little gov. control Free enterprise
An economy in which the gov. makes all of the key economic decisions Command economy
A country's way of making choices about how to use its resources to produce and distribute goods and services Economic system
____________ is also known as a market economy or free enterprise system Capitalism
To set rules for something Regulate
There is private enterprise but the makes all the key economic decisions Scocialist Economy
Make or provide goods and services Producers
The amount of money left after a business it's expenses Profit
The amount of goods and service available for sale Supply
The amount of goods and services consumers want to buy Demand
Someone who organizes and runs a business Entrepreneur
Written proposal that describes yur new business Business Plan
The process of developing promoting and distributing goods and services to consumers Marketing

Economy vocabulary Crossword

Type
Crossword
Description

The value of something that is given up by choosing one alternative over another opportunity cost
Doing a trade in which the parties involved anticipate that the benefits will outweigh the cost Voluntary trade
The alternative is someone gives up when making an economic choice Trade off
A situation that exists when there are not enough resources to meet human wants Scarcity
All the human time effort and talent used to produce goods and services Labor
All the resources people may can use to produce and distribute goods and services Capital
The study of how individuals and society satisfy their unlimited wants and limited resources Economics
Of the combination of vision skill ingenuity and willingness to take risks that is needed to create and run a new business Entrepreneurship
All the natural resources on or under the ground that are used to produce goods and services Land
Desires that can't be satisfied by consuming a good or service Wants
A benefit offered to encourage people to act in a certain way Incentives
The benefit gained from using one more unit of a good or service Marginal benefit
Decisions made by one party that have intended and unintended consequences on other parties Interdependency
A person who makes goods or provides services Producer
A person who buys goods or services for personal use Consumer
The amount of output produced from a set amount of inputs Productivity
The additional cost of producing or using one more unit of a good or service Marginal cost
Things such as food water clothing shelter that are necessary for survival Needs