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ERC3_ Crossword

NAME:

DATE:                               BLOCK:
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Across
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measure of the amount of output produced in a specific time period with a given amount of resources; normally refers to labor, but can apply to all factors of production
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division of _________. division of work into a number of separate tasks to be performed by different workers; same as specialization
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benefit-cost___________. comparison of the benefits of an action to its cost
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meeting place or arrangement through which buyers and sellers interact to determine price and quantity of an economic product; may be local, regional, national, or global
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economic ______________. mutual dependence of the economic activities of one person, company, region, or nation on those of another person, company, region, or nation
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free ________________ economy. a market economy in which privately owned businesses have the freedom to operate for a profit with limited government intervention
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human_____________. sum of people’s skills, abilities, health, and motivation
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Economic ___________. increase in a nation’s total output of goods and services over time
Down
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economic_________. simplified version of a complex concept or behavior expressed in the form of a graph, figure, equation, or diagram
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assignment of tasks to the workers, factories, regions, or nations that can perform them most efficiently
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________________ of living. quality of life based on ownership of necessities and luxuries that make life easier
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something taken for granted; something we think is true
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process or means by which something can be accomplished
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_____________ markets in which goods and services are bought and sold
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_____________ markets in which productive resources are bought and sold