Economics: Principles and Practices 2003

Name: Date:

Instructions: Complete the crossword puzzle. Use the clues to help you solve the puzzle.

5 6 7

8 9 10

11

12

13 14

15

16

17 18

Across
8. assignment of tasks so that each worker performs fewer functions more frequently; same as
division of labor
11. basic requirement for survival; includes food, clothing and/or shelter
12. ___ market; market where goods and services are offered for sale
13. a desire or a way of expressing a need
14. accumulation of products that are tangible, scarce, useful, and transferable
15. worth of a good or service as determined by the market

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Economics: Principles and Practices 2003

16. personal satisfaction or usefulness someone gets from a product

17. economic ___; total output of goods and services increase over time
18. ___ market; market where resources are bought and sold

Down
1. study of how people satisfy unlimited wants with the careful use of scarce resources
2. work or labor performed for someone; economic product that includes haircuts, home repairs,
forms of entertainment
3. tools and equipment used in the production of goods and services; one of four factors of
production
4. basic economic problem facing all societies that results from not having enough resources to
get all the things you want
5. ___ of labor; division of work into a number of separate tasks to be performed by different
workers; same as specialization
6. ___ of value; apparent contradiction between the high value of nonessentials and low value of
essentials
7. risk-taking individual with an original idea; one of four factors of production
9. measure of the amount of output produced by a given amount of inputs in a set period of time
10. ___ good; good intended for final use by consumers rather than businesses

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