Type
Crossword
Description

Something you cannot live without like water and food Need
Things that add comfort or pleasure to your life Want
Things that you can see and touch such as coffee or a shirt Goods
Activities provided for satisfaction of others that are consumed at the same time they are produced. Service
Things that are available to be used to produce goods and services Economic Resources
raw materials supplied by nature Natural Resource
the people who produce goods and services. Human Resources
the risk taker who uses resources to create a new product or service. Entrepreneur
the products and money used in the production of goods and services. Capital Resources
Unlimited wants and limited resources. Economic Problem
Not having enough resources to satisfy every need Scarcity
The process of choosing which needs and wants will be satisfied. Economic Decision-Making
When you have to give up something to have something else Trade-off
The value of the next best alternative that you are not able to choose Opportunity Cost
The amount of product available for consumers to buy. Supply
The quantity of a good or service that consumers are willing and able to buy demand

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

Economics Chapter 1 Crossword

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

Entrepreneurship Vocab Review Crossword

Type
Crossword
Description

Person who works for someone else employee
Person who provides a product or service for someone else for money entrepreneur
Process of running a business of one's own entrepreneurship
Things used to create products or services resources
Person who is a customer consumer
Business that makes the products it sells manufacturing
Money made from providing a good or service income
Costs for supplies used in business expenses
Result when income is greater than expenses profit
Amount added to the cost to determine selling price markup
Federal, state, or local government tax charged on goods sales
Creative problem-solving method that involves coming up with a large number of fresh ideas brainstorming
List of things to be discussed or done in a meeting agenda
Amount subtracted for the retail price to determine the selling price markdown
Making choices and satisfying the wants and needs of consumers economics
Occurs because people's wants and needs are unlimited while the resources needed to produce goods and services are limited scarcity
How much of a good or service a producer is willing and able to produce at different prices supply
Costs that must be paid no meter how much of a good or service is produced fixed
An individual's need or desire for a product or service at a given price demand
Value of the next best alternative opportunity cost
Costs that go up and down depending not he quantity of the good or serve produced variable
Products and services that are brought in from another country to be sold exports
Expenses that a business has every month operating
Financial statements based on estimates pro forma
Item of value owned by a business assets
One-time only expenses that are paid to open a business start up costs
Amount of sales that must be made to cover all of the costs of a business breakeven point

Supply and Demand Crossword

Type
Crossword
Description

The amount of goods available. Supply
When producers offer more of a good as its price increases. law of supply
The amount that a supplier is willing and able to supply at a specific price. Quantity supplied
A cost that rices or falls depending on the quantity produced. Variable cost
A cost that does not change. fixed cost
A tax on the production or sale of a good. Excise tax
The sum of fixed costs plus variable costs. Total cost
The cost of producing one more unit of a good. marginal cost
The total cost divided by the quantity produced. Average cost
The cost of operating a facility such as a factory or a store. Operation cost
The desire to own something and the ability to pay for it. Demand
To buy more of a good when its price is lower. law of demand
when consumers react to an increase in a goods price by consuming less. Substitution effect
The change in consumption that results when a price increases causes real income to decline. income effect
A table that lists the quantity of a good a person will buy at various prices in a market. Demand schedule
A table that lists the quantity of a good all consumers in a market will buy at various prices. market demand
a graphic representation of a demand schedule. demand curve
A good that consumers demand more when their incomes increases. normal good
A good that consumers demand less of what their incomes increase. Inferior good
The statistical characteristics of population and population segments. demographics
A measure of how consumers respond to price change. Elasticity of demand
The total amount of money a company receives by selling goods or services. total revenue

Economics Terms Crossword

Type
Crossword
Description

People HumanResources
Tools and machinery used to make goods and provide services capitalresources
Raw materials used to make goods or provide services naturalresources
Private businesses operating in competition freeenterprise
a person who comes up with a product or service, or a better way to produce one entrepreneur
the money that the government collects from individuals and businesses to pay for public goods and services. taxes
when people/countries depend on one another. interdependence
producing a good or service better than others as to make it more efficient specialization
when a producer loses money loss
When a producer makes money profit
process of choosing one good or service over another opportunitycost
anyone who buys a good or a service consumer
anyone who makes or grows a good or performs a service producer
there are limited resources, and therefore, people must make choices scarcity
amount of a good or service available supply
what people are willing and able to buy demand
something you can feel, or any kind of merchandise good
any kind of work performed for others service
trading one item for another without the exchange of currency barter
the study of the making, buying, and selling of goods or services economics

POB Ch 1 + 2 Crossword

Type
Crossword
Description

total dollar value of all goods and services produced in year GDP
portion of people in the labor force who are not working unemployment rate
movement of the economy from one condition to another and back again business cycle
ownership in a corporation stock
debt for the government or organization but used as an investment by consumers bond
increase in the general level of prices inflation
prolonged period of high unemployment, weak consumer sales, and business failures depression
period in which demand decreases, GDP decreases, and unemployment increases recession
period in which most people are working and businesses are producing goods in record number prosperity
beliefs and principles you consider important values
measure of well people live in a country standard of living
GDP divided by population GDP Per Capita
Turning economic resources into goods and services is called production
natural resource that can be renewed through peoples efforts trees
Become limited as supply of able workers diminishes human resources
Individual and businesses have unlimited wants and needs but their economic resources are limited scarcity
When you give up something to have something else tradeoff
The value of the next best alternative that you did not choose opportunity cost
A person who buys and uses goods and services. consumer
The quantity of a good or service that consumers are willing and able to buy demand
The quantity of a good or service that businesses are willing and able to provide supply
The point where supply and demand are equal market price
Things that are required for basic survival needs
Things that add comfort and quality to life. wants
Economy where resources are owned and controlled by the government command economy
Economy where resources are owned and controlled by the people of the countr market economy
Economy where goods and services are produced the way it has always been done traditional economy
Economy where combines elements of the command and market economies mixed economy
Individuals and organizations that determine what products and services will be available for sale. producer

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

Commerce Crossword

Type
Crossword
Description

When the offeree agrees to the proposal Acceptance
The swapping or exchanging of one good for another Barter
Any organisation that produces and sell, for a profit, the goods and services that satisfy the needs and wants of the consumer Buisness
Let the buyer beware Caveat Emptor
A written communication ordering your financial institution to pay a person a specific amount of money Cheque
Someone who purchases goods and services to satisfy needs and wants Consumer
A legally binding agreement Contract
Electronic Funds Transfer at Point Of Sale EFTPOS
Items that you can see and touch Goods
Buying something without giving too much thought as to whether you need it or not Impulse Buying

Unit 1 vocabulary Crossword

Type
Crossword
Description

Trade which parties trade. Voluntary trade
Benefit gained from using a good service Marginal Benefit
Choice made by one party that gives problems to another party. Interdependency
Cost of using a unit of service. Marginal cost
The production of goods. Productivity
Shortage of resources. Scarcity
Natural resources on or underground. Land
Human time and effort making products. Labor
Desires satisfied by consuming goods. Wants
Things like food, clothing, and shelter. Needs
All resources made and used by people to distribute goods. Capital
Alternative that you give up during economic choice. Trade off
Benefits offers to make people act a certain way. Incentives
Study how people use resources. Economics
Person who makes goods. Producer
Person who buys goods. Consumer
Decision is the value of best next alternative. Opportunity cost

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