Economics Crossword #1

the condition that results from society not having enough resources for people's wants
the study of how people try to satisfy what appears to be seemingly and competing wants through the use of scarce resources
basic requirement for survival such as food, water, and clothes
a way of expressing a need
required to produce the things we would like to have (land, capital, labor, and entrepreneurs)
a natural resource that isn't created by humans
tools, equipment, machinery and factories used in goods and services
the money used to buy tools and equipment that's used in production
people with all their efforts, abilities and skills
a risk-taker, in search of profits who does something new with existing resources
process of creating goods and services
dollar value of all final goods/services and structures produced in a year period in the country
goods and services that are useful, relatively scarce and transferable to others
intended for final use by individuals
an item that is economically used or satisfies an economic want, such as a book or haircut
manufactured goods are used to produce other goods and services
haircuts, home repairs, and forms of entertainment
refers to a worth that can be expressed in dollars and cents
situation where some necessities (such as water) have little monetary value, whereas some non-necessities (such as diamonds) have high value
not something fixed or measurable, the utility of goods or service may vary from one person to another
a economic sense, is the accumulation of the products that are scarce, useful, transferable to one person to another
a location or other mechanism that allows buyers and sellers to exchange economic products
markets where productive resources are bought and sold
when a nations output of goods and services increases over time
a measure of the amount of output produced by a given amount of inputs in a output in a specific period of time
takes place when work is arranged so individual workers do less tasks
takes place when factors of production is not limited to a single factor of production perform tasks that they can do relatively more efficiently more than others
the sum of skills, abilities, health, and motivation of people
that we rely on others and others rely on us to provide goods and services that we consume