01-What is Economics

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Across
  1. 2. A negative or withdrawn reward.
  2. 5. The process of using a product or service.
  3. 7. The imagination, innovative thinking, and management skills needed to start and operate a business.
  4. 10. The buildings, tools, and machines people create and use to produce final goods and services.
  5. 11. The highest valued alternative given up as a result of making a choice.
  6. 15. An inequality that exists between wants and the resources available to satisfy them.
  7. 16. A positive reward that results from making a choice or behavior in a certain way.
  8. 17. The process of getting a product or serice to consumers
  9. 18. The physical and mental efforts people use to create goods and services.
Down
  1. 1. The gains that result when a choice is made.
  2. 3. A social science that studies how peopole, acting individually and in groups, decide to use scarce resources to satisfy their wants.
  3. 4. Exchanging something for something else.
  4. 6. A positive difference between sales totals and sales costs.
  5. 8. An economy that relies on voluntary trade as the primary means of organizing and coordinating production.
  6. 9. The extra or additional costs or beenfits of a decision.
  7. 12. Natural resources that are unaltered gifts of nature, such as soil, minerals, timber, and fresh water.
  8. 13. The losses that result when a choice is made.
  9. 14. A process that combines ecnomic resources so the result is a good or service available for sale.