Economics Fundamentals Crossword Puzzle Answer Key
This answer key corresponds to a crossword puzzle focusing on fundamental economic concepts. Since the puzzle itself wasn't provided, this key offers example answers for common terms. You can adapt it to your specific puzzle. Remember to always double-check your answers against the puzzle's clues!
Across
- SCARCITY: The fundamental economic problem of limited resources and unlimited wants.
- DEMAND: The consumer's desire and ability to purchase a good or service at a particular price.
- SUPPLY: The amount of a good or service producers are willing and able to offer at a given price.
- MARKET: A place (physical or virtual) where buyers and sellers interact to exchange goods and services.
- CAPITAL: Resources used in the production process, including machinery, tools, and factories.
- OPPORTUNITY: The next best alternative forgone when making an economic choice. (Clue might be "Cost")
- INFLATION: A general increase in the prices of goods and services in an economy.
- GDP: Gross Domestic Product; the total value of goods and services produced within a country's borders in a specific period.
- TRADE: The exchange of goods and services between individuals, businesses, or countries.
- TAX: A compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures.
- PROFIT: The financial gain resulting from a business activity after subtracting all costs.
Down
- CONSUMER: An individual who purchases goods or services for personal use.
- PRODUCER: An individual or business that creates and supplies goods or services.
- RESOURCES: Inputs used in the production of goods and services (land, labor, capital, entrepreneurship).
- ECONOMICS: The social science that studies how societies allocate scarce resources.
- EQUILIBRIUM: The point where supply and demand intersect; market clearing price.
- COMPETITION: Rivalry among businesses selling similar products or services.
- LABOR: Human effort used in the production process.
- LAND: Natural resources used in production, including land itself, minerals, and water.
- INVESTMENT: Spending on capital goods to increase future production.
- PRICE: The amount of money exchanged for a good or service.
- REcession: A significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
- DEPRESSION: A prolonged and severe recession.
- SERVICES: Intangible goods, such as healthcare, education, or entertainment.
- EXPENDITURE: Spending by households, businesses, or the government.
Note: This is a sample answer key. The actual answers will depend on the specific clues in your crossword puzzle. For example, "Cost" could also refer to other economic concepts depending on the context. Ensure you carefully examine the clues to determine the most accurate answer.
