economics

2. a person who decides how to combine resources to create goods and services
4. a line on a production possibilities curve that shows the maximum possible output on economy can produce
6. a negative emotion such as regret, anxiety or guilt that consumers may experience after buying an item
8. a situations with consumers who want more goods and services
10. the process by increasing productivity and result in higher wages
12. maximizes the production of goods and services on the production possibilities of frontier underutilization
13. an economic system in which decisions on the three key economic questions are based on voluntary exchange in market
14. the central government dictates the level of productions of goods and control their distribution

1. describes the tradeoff governments face in spending on national defense or on domestic programs
3. financial rewards provided to alter consumption and production patterns in the economy
5. the act of giving up one benefit in order to gain another great benefit
7. economic system that has some market based elements and some level of government involvement
8. the principle that limited the amount of goods and services
9. the most desirable alternative given up as the result of a decision
11. resources and technology improves