Type
Crossword
Description

The inability to satisfy all wants at the same time. Requires choices to be made. Scarcity
Selection of an item or action from a set of possible alternatives. Individuals must choose or make decisions about desired goods and services because these goods and services, or the means for acquiring them, are limited. Choice
What is given up when a choice is made—i.e., the highest valued alternative is foregone. Individuals must consider the value of what is given up when making a choice. Opportunity cost
Factors of production that are used in the production of goods and services. Types of resources are natural, human, capital, and entrepreneurship. Resources
The amount of money exchanged for a good or service. Interaction of supply and demand determines price. Price determines who acquires goods and services. Price
Things that incite or motivate. Incentives are used to change economic behavior Incentives
The amount of a good or service that consumers are willing and able to buy at a certain price Demand
The amount of a good or service that producers are willing and able to sell at a certain price Supply
Interaction of supply and demand determines price. Supply and Demand
Combining human, natural, capital, and entrepreneurship resources to make goods or provide services. Resources available and consumer preferences determine what is produced. Production
The using of goods and services. Consumer preferences and price determine what is purchased and consumed. Consumption
A market system that is allowed to operate without undue interference from the government Free Market Economy
Individuals and businesses have the right to own personal property as well as the means of production without undue interference from the government. Private Property
Earnings after all expenses have been paid Profit
Rivalry between producers and/or between sellers of a good or service. Competition usually results in better quality goods and services at lower prices. Competition
Through their purchases, consumers determine what goods and services will be produced. Consumer sovereignty
A form of business organization with one owner who takes all the risks and all the profits Proprietorship
A form of business organization with two or more owners who share the risks and the profits Partnership
A form of business organization that is authorized by law to act as a legal entity regardless of the number of owners. Owners share the profits. Owner liability is limited to the amount of their investment. Corporation
A person who takes a risk to produce goods and services in search of profit Entrepreneur

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

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

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

Entrepreneur Crossword Puzzle

Type
Crossword
Description

Someone who organizes, manages and takes on the risk of starting a new business. Entrepreneur
in the US, a business containing fewer than 500 employees. Small Business
The act of being an entrepreneur and creating a business. Entrepreneurship
The goals, purpose, and work a business hopes to accomplish. Business Mission
One who purchases a product or service. Customer
Work done for pay that benefits someone else. Service
Something produced or manufactured to be sold; a good. Product
Placing a number value/worth on a product. Pricing
The size, sum, or amount of countable or measurable products, expressed as a numerical value. Quantity
Someone who provides money or resources for a business, with the expectation or financial return or other gain. Investor
Money that is made/lost in a business after all costs and expenses are paid. Profit and Loss
Customers desire for a product or service. Demands

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

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

Sports Marketing Crossword

Type
Crossword
Description

The way a nation makes economic choices Economy
All the things used in producing goods and services resources
Money needded to start and operate a business Capital
All the people who work in the economy labor
rising prices inflation
The time when the economy is flourishing prosperity
Increase in overall economy activity Recovery
The struggle between companies for customers competition
The potential for loss or failure in relation for improved earnings Risk
exclusive control over a product or the means of producing it monopoly
money earned from busines after all costs and expenses have been paid profit
The amount of goods producers are willing to make and sell supply
consumer willingness and ability to buy products demand
when supply exceeds demand surpluses
when demand exceeds supply shortages
when the amount of a product being supplied is equal to the amount being demanded equilibrium
consumers will buy the products that are the lowest in price Price Competition
eveverything on the Earth that is in its natural state, or the earths natural state, or Earth's natural resources Land
The difference between wants and needs and available resources scarcity

economics Crossword

Type
Crossword
Description

an economic system in which individuals are free to compete and earn a living Market
an economic system in which buyers and sellers are free to exchange goods and services free
a desire to make a profit Profit motive
when you put money into a business invest
The exclusive right granted by law, to publish or sell a written, musical, or artistic work copywright
Gives a person the exclusive right to make and sell an invention patent
limited resources scarcity
law that states businesses will provide more products when they can sell them at higher prices law of supply
law that states buyers will demand more products when they can buy them at lower prices law of demand
Money invested in buildings, machines, and other property used to produce goods capital
Businesses owned by one person sole proprietorships
organizations that provide goods and services without seeking a profit nonprofit
Businesses where two or more people share responsibilities partnerships
Corperation profits paid to stockholders dividends
Another form of business organization corporation
people who buy corporate stocks stockholders
money a person pays to use something rent
Total amount of money made after deductions net
total amount of money made before deductions gross
human effort used to produce goods and services labor
The amount of work produced by a worker per hour productivity
The decision makers of a business entrepreneurs
An economic system based on private ownership of the meens of production capitalism
Companies that control all production of a good or service monopolies
this occurs when two or more companies combine to form one company merger
A form of business organization in which several companies create a board of trustees so they no longer compete with eachother trust
An economic system that combines elements of free and command economies mixed
production is based on customs and traditions usually passed down traditional
government owns almost all of the capital, tools, and equipment command

Economic Systems Crossword

Type
Crossword
Description

Way in which humans allocate scarce resourced to produce various commodities and how those commodities are distributed for societal consumption Economics
Goods and services desired but not necessary for survival Human wants
Goods and services necessary to survival Human necessities
Human skills required to start and run a business Entrepreneurship
Materials used to make goods and services Factors of Production
Amount of a product available to the market Supply
Consumer's willingness to buy a product Demand
Occurs when a product is produced in larger quantities than it is demanded Surplus
Occurs when a product is demanded in larger quantities than it is produced Shortage
Occurs when a product is demanded in the same quantity it is produced Equilibrium
Amount of goods and services the people of a country can buy Standard of Living
General increase in the cost of goods and services Inflation
General decrease in the cost of goods and services Deflation
When the government spends more on programs than it collects in taxes Budget Deficit
Total amount of money owed by the federal government National Debt
When the government collects more in taxes than it spends on programs Budget Surplus
Rise and fall of economic activity over time Business Cycle
Decline in economic activity Recession
A deep, long-term decline in economic activity Depression
Rise in business activity after a recession or depression Recovery