Type
Crossword
Description

the structure of methods and principles a society uses to produce and distribute goods and services economic system
the income people receive in return for supplying factors of production factor payments
the amount of money a business receives in success of its expenses profit
a set of programs to protect people who face unfavorable economic conditions such as layoffs, injuries, or natural disasters safety net
fairness equity
level of economic prosperity standard of living
the process of bringing new methods, products, or ideas into use innovation
answers to the 3 basic economic decisions free market economy
a business firm
a person or group of people living in a single residence household

Economics Chapter 2 Vocabulary Part 2 Crossword

Type
Crossword
Description

one's own personal gain self-interest
the market in which households purchase the goods and services that firms produce product market
the financial gain made in a transaction profit
market in which firms purchase the factors of production from households factor market
a person or group of people living in the same residence household
the concentration of the productive efforts of individuals and firms on a limited number of activities specialization
level of economic prosperity standard of living
government programs that protect people experiencing unfavorable economic conditions safety net
the income people receive for supplying factors of production, such as land, labor or capital factor payments
mixed economy, leans towards free market side. Canada's economy
mixed economy, leans towards the centrally planned side China's economy
(1723-1790) Scottish philosopher. "wealth of nations" advocated the idea of laissez faire; or government not involving themselves in the economy. Adam Smith

Accounting Terms: Back to Basics Crossword

Type
Crossword
Description

describes the sources and uses of cash for a reporting period Statement of cash flows
charge for using money until repaid at a future date Interest
security that represents ownership in a corporation; holders exercise control by electing a board of directors and voting on corporate policy Common stock
amount by which a company's value exceeds the value of its individual assets and liabilities Goodwill
class of ownership in a corporation that has a higher claim on its assets and earnings than common stock Preferred stock
net sales minus cost of goods sold Gross profit
record within an accounting system where increases and decreases in a specific asset, liability, equity, revenue, or expense are entered and stored Account
process of allocating the cost of an intangible asset to expense over its estimated useful life Amortization
an entry that increases asset and expense accounts, and decreases liability, equity ad revenue accounts Debit
income statement, balance sheet, statement of changes in owner’s equity, and statement of cash flows Financial statements
customers and other individuals and organizations who owe a company Debtors
journal entry at the end of an accounting period to bring an asset or liability account to its proper amount and update the related expense or revenue account Adjusting entry
total cost of an asset less its accumulated depreciation Book value
an asset created by selling products or services on credit Accounts receivable
method to assign cost to inventory that assumes items are sold in the order acquired FIFO
entity created by law and separate from its owners Corporation
inflows of assets in exchange for products and services provided to customers as part of a company’s operations Revenues
length of time an asset will be productively used in the operations of a business Useful life
occurs when expenses exceed revenues Net loss
merchandise a company owns and expects to sell in its normal operations Inventory
estimate of amount to be recovered at the end of an asset's useful life Salvage value
expense created by allocating the cost of plant and equipment to periods in which they are used; represents the expense of using an asset Depreciation
resources owned or controlled by a company that provide expected future benefits to the company Assets
a liability created by buying products or services on credit Account payable
obligations due to be paid or settled within the longer of one year of the operating cycle Current liabilities
equals a corporation’s accumulated net income (loss) for all prior periods that has not been distributed to shareholders Retained earnings

SSEF4,5,6 vocabulary Crossword

Type
Crossword
Description

Economic system based on private ownership of the means of operation for profit Capitalism
Economic system in which the central government makes all decisions on the production and consumption of goods and services Command economy
The struggle among producers for the dollar of consumers, the rivalry Long sellers to attract consumers while lowering the cost Competition
Person or over not Seshan that uses economic services f person or over notation that uses economic services or commoditives Consumer
Goods that are ultimate rather than use in production of another good consumer good
The removal of some government controls over at market Deregulation
Economic systemsThe method used by S a society to produce and distribute goods and services Economic systems
Using resources in such a way as to Max the production of goods and services Efficiency
The power of the government to take private property and convert it to public use Eminent domain
Concept or idea of fairness in economics Equity
Freedom to prosper within a country without the intervention from the government or the economic author Freedom
Increase the amount of the population over period of time GRowth
The act of redirecting resources from being consumed today so that they may create benefits in the future, the use of assets to earn the income or profit investment
Economic systems in which decisions on production and consumption of goods and services are based on voluntary exchange and markets Market economy
Entitlement program that benefits low income families, some people with disabilities and elderly people in nursing homes Medicaid
National health insurance program that helps pay for health care for people over the age of 65, or who have certain disabilities Medicare
Economic system that combines the free market with very limited government Mixed economy
The cost that is suffered by a third-party as a result of an economic transaction Negative externality
License that gives a inventor of a new product the exclusive right to sell it for a certain period of time Patent
Occurs when the consumption of the production of a good calls a benefit to a third-party Positive externality
The sale or transfer of state owned businesses to an individual Privatization
Value of an output produced Productivity
The force that encourage people and organizations to improve their material well-being Profit motive
Right theoretical search showing in force constructs in the economics for determining how a resource or economic good is used and owned Property
Programs and Stabley S-t by the US government to provide housing for low income families, disabled people, and the elderly Public housing
The business of supplying a common the or ser The business of supplying a commodity or service. Service rendered in public interesr Public services
Financial instrument that represents an ownership of possession in a publicly Financial instrument that represents an ownership of possession in a publicly trade corporation, I created your relationship with the government body, right to ownership as a representative Security

Accounting Concepts Crossword

Type
Crossword
Description

Life of the business is divided into periods of equal length to measure performance and psoition Accounting Period
Transaction are reported in the period they relate to. Accrual Basis
Business will continue to operate into the foreseeable future. going concern
Transactions must be reported in NZ dollars. monetary concept
Transactions are reported at their original purchase price. historical cost
Financial affairs of the business is kept separate from the financial affairs of the owner and other businesses. Accounting Entity
To show the assumptions followed in preparing the statements and how financial elements have been measured for the entity. Statement of Accounting Policies
To show the income, expenses and measure profit for the period for the entity. Income Statement
To measure assets, liabilities and equity at one point in time for the entity. Statement of Financial Position
Prediction of future cash receipts and payments and also shows the estimated bank balance for a particular time period for the entity. Cash Budget
Prepares, analyses and interprets the financial information to assist in decision making. Financial Accountant
Preparing internal reports and measuring performance within the business including budgets and costing. Management Accountant
Calculating costs of producing the goods or services which the business is selling. Cost Accountant
Carries out independent checks on businesses financial records to ensure accuracy and reliability of the report i.e., “a true and fair view’. Auditors
Calculation and payment of tax, and advice on tax issues. Tax Accountant
These are independent, registered accountants who provide a range of specialist services to businesses as well as providing Chartered Accountants
Resource controlled by the entity (business) as a result of past events and from which future economic benefits are expected to flow to the entity. Asset
Present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Liability
Residual interest in the assets of the entity after deducting all its liabilities. Owner's Equity
Increases in economic benefits during the year in the form of inflows or enhancements of assets or decrease in liabilities that result in increases in equity other than those relating to contributions from equity participants Income
Decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences in liabilities that result in decreases in equity other than those relating to distributions to equity participants Expense
It is an item that will benefit the firm beyond the current year . Capital Expenditure
It is an item that will benefit the firm for the current year and is classified as an expense. Revenue Expenditure

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

fundamental of accounting Crossword

Type
Crossword
Description

Revenue,expenses and net incom/loss are show on INCOMESTATEMENT
Credit recorded when a company purchase inventory on credit from vendors or supplies. ACCOUNTS PAYABLE
A long-term contract to borrow money from a creditor. NOTEPAYABLE
Initial investments made by owners like stock purchases or partnership buy-ins. CAPITAL
A creditor's claim on a company' assets. LIABILITY
Miscellaneous assets that are entire in product production that are too small and inexpensive to capitalize. SUPPLIES
An asset that arises from selling goods or services to someone on credit. RECEIVABLE
A subsection of the general field of accounting that focuses on gathering and compiling data in order to present it to external users in a usable form. FINANCIAL
Entry on the left side of an account. DEBIT
A written promise to repay money. NOTESRECEIVABLE
Assets earned by a company's operations and business activities. REVENUES
Entry on the right side of an account. CREDIT
A resource that is owned or controlled by a company that can be used to provide a future economic benefit. ASSET
The _______ ________ statement summarizes how changes in balance sheet accounts affect the cash account during the accounting period. CASHFLOW
The report that shows a company's financial position based on its assets, liabilities, and equity at a single moment in time. BALANCESHEET
A report that shows the income, expenses, and resulting profits or losses of a company during a specific time period INCOME
Accounts listed last on the balance sheet. EQUITY
He is know as father of accounting PACIOLI
When expenses are greater that revenue you have a? netloss
Money received in advance for services to be performed in the future are reported on the balance sheet as deferred revenues, _________________ revenues, or as customer deposits. UNEARNED
The accounts in this balance sheet classification are credited to increase them LIABILITIES
The difference between a sole proprietorship's total assets and its total liabilities is ___________'s equity. OWNER
Coins,Currencies,checks,bank deposit this is under of____? cash
This is represent the unsold goods at the end of the accounting period? inventories
. Amounts owned to other for expenses already incurred but not yet paid?? accruedincome
Liability to pay the bank or other financing institution arising from funds borrowed by the business from these institution payable within twelve or shorter. loanpayable
assets held by an enterprise for the accretion of wealth non-current-assets
Accepts deposits from people and busniesses and use them to finance their business deposit
Plans incomes and expenses startupbudget
The _________________ entries come from the worksheet adjusting
An example of Revenue is sales
When you owe money payable
The fourth step in the accounting cycle is ? worksheet
This affects owners equity drawing
The ___________________ entries are done at the end of every month closing
charge for using money until repaid at a future date interest
income statement, balance sheet, statement of changes in owner’s equity, and statement of cash flows financialstatement
In accounting at least ____________ accounts are affected in a transaction two
Sales minus expenses net income
A debt evidenced by a "note" which specifies the principal amount, interest rate and date of repayment loan
A written cash flow plan budget

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

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

Crossword Macroeconomics

Type
Crossword
Description

A firm's expenditure on capital goods that will be used in the production of goods and services investment
Three sector economy is also known as Closed economy
Investment that depends on the national income induced
Investment that fixed and independent of income autonomous
Factor that influence imports inflation
The total income received by household in an economy that is available to purchase goods and services or for savings disposable income
Four sector economy is also known as open economy
This tax burden can be transferred to other parties indirect tax
What is formula of consumption function? C=a+bYd
The main component in aggregate demand are Investment and? consumption

Economics Vocabulary Crossword

Type
Crossword
Description

Known as the father of modern economics Adam Smith
Favoring or enforcing strict obedience to authority, especially that of the government, at the expense of personal freedom Authoritarian
An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state Capitalism
A model of the economy in which the major exchanges are represented as flows of money, goods and services between economic agents Circular Flow Model
A group of entities that share or are motivated by at least one common issue or interest, or work together to achieve a common objective Collective
An economic system in which inputs are based on direct allocation Command Economy
A social, political, and economic ideology movement whose ultimate goal is the establishment of the communist society Communism
The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, distribution, and promotion Competition
In economics, consumer sovereignty is the assertion that consumer preferences determine the production of goods and services Consumer Sovereignty
The separation of tasks in any economic system so that participants may specialize Division of Labor
Implies an economic state in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency Economic Efficiency
Equity or economic equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics Economic Equity
The freedom to prosper within a country without intervention from a government or economic authority Economic Freedom
An increase in the amount of goods and services produced per head of the population over a period of time Economic Growth
the condition of having a stable income or other resources to support a standard of living now Economic Security
refers to an absence of excessive fluctuations in the macro-economy Economic Stability