Economics 1.1-1.4

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Across
  1. 2. What points on the PPC represent underutilization of resources?
  2. 4. What are the inputs used to produce goods and services, including land, labor, capital and enrepreneurship?
  3. 6. What term describes the condition where the demand for a resource exceeds its availabity?
  4. 9. What term represents the economic principle that quantifies the value of the best alternative foregone when making a decision?
  5. 10. What economic term describes resources that are not depleted through consumption?
  6. 11. What type of shift in the PPC indicates an improvement in resource quality or quantity?
  7. 12. What concept illustrates the maximum output of two goods given fixed resources?
Down
  1. 1. What term describes the ability of resources to move freely between different uses or locations?
  2. 3. What term refers to the market classification of goods that require investment to produce and are scarce?
  3. 5. What type of change refers to an increase in the effectiveness of the inputs used in production?
  4. 7. What economic concept encompasses the various costs associated with resource allocation decisions?
  5. 8. What concept reflects the necessity for individuals and societies to make choices due to resource limitations?