Economics
Across
- 3. maximum possibilities for 2 goods
- 5. involves a sacrifice that must be made to get a certain product or experience.
- 6. financial motivations for people to take certain actions.
- 7. Resources (4 Factors of Production) input resources required in the production of goods and services.
- 10. Cost the value of the next-best alternative when a decision is made;
- 11. the state of being scarce or in short supply a product given or service by a supplier that offers to consumers at a given price level.
Down
- 1. essentials we need for survival
- 2. Possibilities Frontier a graph that shows different combinations of output of two goods that can be produced using available resources and technology.
- 3. the amount of physical, mental, and social effort used to produce goods and services in an economy.
- 4. the process of discovering new ways of combining resources.
- 8. liquid assets
- 9. something that we desire