Economics

2. the ability to produce a good using fewer inputs than another producer
5. the setting of the money supply by policymakers in the central bank
6. Amount you pay monthly, quarterly, semiannually or annually to purchase different types of insurance
8. Dollar amount if all final goods and services produced in a country in a year
10. The ability of a country to produce a good at a lower cost than another country can
14. in order to have more of one thing you have to have less of another
16. GDP measured in current prices
17. period of reduced economic activity
19. the act of giving up one benefit in order to gain another, greater benefit
21. Amount you must pay before you begin receiving any benefits from your insurance company
22. whatever must be given up to obtain some item

1. capital goods, entrepreneurship, land, and labor
3. Traditional, market, and command
4. GDP from base year changes in price
7. A continuous rise in the price of goods and services
9. A situation in which unlimited wants exceed the limited resources available to fulfill those want
11. Consumer willingness and ability to buy products
12. The amount of goods available
13. the quantity of goods and services produced from each unit of labor input
15. House holds and businesses flow. House holds sell resources to businesses for money. Business sell their goods to the house holds.
18. The study of how people seek to satisfy their needs and wants by making choices
20. Countries specialize in producing a good which they have comparative advantage