Chapter 1 Economics Crossword

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Across
  1. 2. what is used in the production process to produce output
  2. 5. a factor of production. It is one of three primary building blocks (along with land and labour) that, in combination, can be used to produce goods and services.
  3. 9. basic elements from which all goods and services are produced
  4. 10. things that are desired but not needed
  5. 13. when you give up one thing to get another
  6. 15. value of choice of the next best alternative
  7. 16. branch of economics that deals with how an economy functions on a large scale
  8. 17. the study of choice under conditions
  9. 19. a financial gain
  10. 20. anything drawn from nature for the use in production of goods or services
Down
  1. 1. the study of decisions made by people and businesses regarding the allocation of resources, and prices at which they trade goods and services.
  2. 3. the time and effort people contribute to the production process
  3. 4. anything that is long lasting created by humans for use in production
  4. 6. physical items produced in an economy
  5. 7. activities produced in an economy
  6. 8. minimal requirements to survive
  7. 11. exists when we have more desire than we can have
  8. 12. the willingness of people to take risks in hope for a larger economic reward
  9. 14. the economic value of a worker's experience and skills.
  10. 18. quantity of goods or services produced in a given time period