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Economics ch. 1

Gridley

1                 2                  
 
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        11
         
         
    12             13 14                    
         
         
  15                      
         
  16   17        
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  22             23            
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25                            
         
26                        

Across
1.land, labor, capital, entrepreneurship
3.quality of life based on ownership of wealth
4.process of using goods to satisfy wants and needs
5.measure of goods and services produced in specific time
7.specialization to produce goods more efficiently
8.economy where individuals and businesses make major decisions
12.usefulness
14.good lasting 3 years or more
15.good or tool used to produce other goods
17.tangible item that is economically useful
18.limited resources unlimited wants
22.tools, equipment, machinery, and factories used in production
23.work that is performed for someone
25.where factors of production are sold
26.start new businesses in U.S.
Down
2.diagram showing combinations of goods and services available
6.want is more valuable than a need
9.study of how people satisfy wants and needs
10.next best alternative you give up
11.basic requirement for survival
13.alternative choices when faced with a decision
16.people's efforts, abilities, and skills
19.place where voluntary exchanges are made
20.worth that can be expressed in dollars and cents
21.total sum of all economic products scarce and useful
24.desired product not necessary for survival

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