Chapter 6 - Intro to Economics

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Across
  1. 3. Amount of work a person can do in a specific amount of time, usually an hour.
  2. 4. Science that examines how goods and services are produced, sold, and used.
  3. 7. Person who starts a business.
  4. 9. Work performed by people in businesses.
  5. 10. Transportation systems and utilities necessary in a modern economy.
  6. 11. When something is given up in order to gain something else.
  7. 12. When demand is higher than the available resources.
  8. 13. of production: Economic resources a nation uses to make goods and supply services for its population.
  9. 15. goods Products businesses use to produce other goods.
  10. 16. Tools and machinery used to produce goods or provide services.
Down
  1. 1. Branch of economics that studies human behavior and choices that relate to the economic decisions of individuals and businesses.
  2. 2. decision-making: Process of choosing an option after evaluating the available information and weighing the costs and benefits of the alternatives.
  3. 5. cost Value of the next-best option that was not selected.
  4. 6. Willingness and ability to start a new business.
  5. 8. Branch of economics that studies human behavior and choices that relate to the entire economy of a nation.
  6. 14. Use of science to invent useful things or to solve problems.