Economics Crossword Word Scramble
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| Term | Definition |
| Need | A basic requirement for survival like food, water, and shelter |
| Scarcity | This occurs because we have unlimited wants with limited resources. |
| Capital | The factor of production that includes items like money, computers, fleets of trucks, buildings, etc. |
| Economics | The study of the production and distribution of goods and services in a society. |
| Traditional | The type of economic system that is often found in developing countries where individuals' roles are the same as their parents and grandparents. |
| Communism | The command economic system where the government owns the means of production. |
| Government | The elements of circular flow include: business, households, and __________________________. |
| Demand | The amount of a good or service that people are willing and able to buy at a specified price. |
| Equilibrium | The point at which supply and demand intersect. |
| Complimentary | Goods that go together or are related where demand for one is linked to demand for the other are called ____________ goods. |
| Corporation | A business owned by shareholders. |
| Entrepreneur | An individual who starts a business. |
| Labor | Education, experience, and skills are a part of which factor of production. |
| Inelastic | Demand that does not change when prices rise and fall. |
| Supply | Production above equilibrium results in excess _________ |
| Amtrak | The passenger train system owned and operated by the U.S. government |
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