Econ Fundamentals Review

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Across
  1. 2. ALL the alternatives that we give up when we make a choice.
  2. 4. Little government involvement in the economy.
  3. 6. Any skills or knowledge gained by a worker through education and experience.
  4. 8. Study of small economic units such as individuals, firms, and markets.
  5. 10. The opportunity costs of making a decision.
  6. 12. Study of the large economy as whole or economic aggregates.
  7. 13. Ambitious leaders that combine the other factors of production to create goods and services.
  8. 14. The traditional out-of-pocket costs associated with making a decision.
  9. 17. government owns all the resources and answers the three economic questions.
  10. 18. All natural resources that are used to produce goods and services.
  11. 19. We have unlimited wants but limited resources.
  12. 20. Any human-made resource used to create other goods and services.
Down
  1. 1. Making decisions based on increments.
  2. 3. own resources and answer the three economic questions.
  3. 5. most desirable alternative given up when you make a choice.
  4. 7. The science of scarcity
  5. 9. Economics is the study of ________
  6. 11. Entrepreneurs create, launch, and run a business to obtain _______.
  7. 15. The concept that society’s goals will be met as individuals seek their own self-interest.
  8. 16. Any effort a person devotes to a task for which that person is paid.