Business

6. To categorize, sort, and transport goods to all their final destinations as efficiently, inexpensively, and carefully as possible.
9. The study of behavior and decision-making of individuals and businesses in an economy.
11. The study of how individuals and societies make decisions about resources, production, distribution, exchange, and consumption of goods and services, given unlimited and competing wants, and given the scarcity of resources.
13. The study of the behavior, performance, structure, and decision-making of an economy as a whole.
14. The loss of potential gain from among other alternatives, when one alternative is chosen.
15. The making of products from raw materials and other inputs like labor, machinery, and tools.
16. The reality that people’s wants always exceed the resources available to fulfill those wants.
19. The using of goods and services by people or by the economy in general.
21. The total amount of goods and services used by an economy.

1. The increase in the general level of prices in an economy.
2. Something’s usefulness and the degree to which wants are satisfied.
3. Reducing the amount of money spent in order to save money.
4. Materials and substances found in nature that are used for economic gain, including air, water, sun, fertile land, plants, timber, fossil fuels, and minerals.
5. Desire for goods, services or intangible items that can only be acquired by spending money – items like a car, or a haircut, or a patent.
7. A good or service that has a benefit (or utility) to society, has value and therefore can be traded and exchanged using money, and has some degree of scarcity.
8. The decrease in the general level of prices in an economy.
10. Choosing between two things that can’t be had or done at the same time; so it’s giving up something you want in exchange for something else you want, often as a compromise.
12. The physical assets used to produce goods and services, including machinery, equipment, buildings, and tools.
17. One who actually uses the product or service (also called the final user, or final customer).
18. All the components needed for production including natural resources, labor, capital goods, and expertise.
20. Desires that don’t require money to be obtained, like talking to a friend.