Intro to Econ Study Guide

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Across
  1. 3. A point outside the curve on a PPC.
  2. 8. All possible production possibilities on a PPC.
  3. 11. Chart used to view all opportunity costs.
  4. 12. What is given up in a decision.
  5. 14. The work put into the creation of products by humans.
  6. 16. Occurs when there are limited resources for unlimited wants and needs.
  7. 17. Required by humans to survive.
  8. 20. Skills and Knowledge.
  9. 21. Often this deals with large scale units in the economy like the government.
Down
  1. 1. The 4 classifications of creating goods and services.
  2. 2. Charts used to show trade offs with resources.
  3. 4. This deals with economics in smaller units like individuals and firms.
  4. 5. The creation of a business.
  5. 6. All raw natural materials.
  6. 7. Things humans desire.
  7. 9. The ability to agree freely to selling and buying what you want.
  8. 10. Tools and Buildings.
  9. 13. The study of scarcity and choice.
  10. 15. Separating workers jobs when creating goods and services for efficiency.
  11. 16. Takes place when people want something producers are unable or unwilling to make.
  12. 18. All human-made resources.
  13. 19. A underutilization of resources on a PPC.