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Economics Crossword Puzzle

Across
Economic system in which supply, demand, and the price system help people make decisions and allocate resources
Fundamental economic problem facing all societies that results from a combination of rare resources and people's virtually unlimited wants
Economic system characterized by a central authority that makes most of the major economic decisions
Free enterprise market economy where people carry on their economic affairs freely, but are subject to some government intervention and regulation
Value of all final goods, services, and structures produced by a country during a one-year period
Economic system in which the allocation of scarce resources and other economic activity is the result of ritual, habit, or custom
Cost of the next best alternative use of money, time, or resources when one choice is made rather than another
Economic system in which private citizens own and use the factors of production in order to generate profits
Aparent contradiction between the high value of nonessentials and low value of essentials
Down
Money used to buy the tools and equipment used in production
Productive resources that make up the four categories of land, capital, labor, and entrepreneurship
Organized way a society provides for the wants and needs of its people
Federal program of disability and retirement benefits that covers most working people
Risk-taking individual in search of profits one of the four factors of production
Process of creating goods and services with the combined use of land, capital, labor, and entrepreneurship
Social science dealing with the study of how people satisfy seemingly unlimited and competing wants with the careful use of scarce resources
A person that uses goods and services to satisfy wants and needs
Rise in the general level of prices
Tools, equipment, and factories used in the production of goods and services
People with all their abilities and efforts One of four factors of productions