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Across 2. another name for division of labor 5. dollar value of all final goods, services, and structures produced within a country's national borders during a one-year period (3 Words) 8. market where any of the requirements for a competitive market are lacking (2 Words) 13. extent to which persons or organizations are better off at the end of a period than they were at the beginning 16. risk-taking individual in search of profits 18. market economy in which privately owned businesses have the freedom to operate for a profit with limited government intervention (3 Words) 20. division of work into a number of separate tasks to be performed by different workers (3 Words) 22. social science dealing with the study of how people satisfy seemingly unlimited and competing wants with the careful use of scarce resources 23. people with all their abilities and efforts 26. the struggle among sellers to attract customers 27. act of buyers and sellers freely and willingly engaging in market transactions (2 Words) 29. mutual dependence of one person's, firm's, or region's economic activity on another (2 Words) 30. economic system in which government owns some factors of production and has a role in determining what and how goods are produced

Down 1. free enterprise market economy where people carry on their economic affairs freely, but are subject to some government intervention and regulation (4 Words) 3. apparent contradiction between the high value of nonessential item and the low value of an essential item (3 Words) 4. fundamental feature of capitalism, which allows individuals to own and control their possessions as they wish (3 Words) 6. tool, equipment, or other manufactured good used to produced other goods and services (2 Words) 7. economic system characterized by a central authority that makes most of the major economic decisions (2 Words) 9. economic system in which the allocation of scarce resources and other economic activity is the result of ritual, habit, or custom (2 Words) 10. economic system that has some combination of traditional, command, and market economies (2 Words) 11. economic system in which supply, demand, and price system help people make decision and allocate resources (2 Words) 12. quality of life based on ownership of necessities and luxuries that make life easier (3 Words) 14. cost of the next best alternative use of money, time, or resources when one choice is made rather than another (2 Words) 15. measure of the amount of output produced with a given amount of productive factors 17. economic-side effect that affects an uninvolved third party 19. driving force that encourages people and organizations to improve their material well-being (2 Words) 21. economic system in which private citizens own and use the factors of production in order to generate profits 24. fundamental economic problem facing all societies 25. alternative that must be given up when one choice is make rather than another (uses a chart) (2 Words) 28. "gifts of nature"