Economics Basics Vocab.

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Across
  1. 4. Have less productive economies and lower standards of living.
  2. 6. The removal of trade barriers.
  3. 7. The study of how people meet their wants and needs
  4. 8. The exchange of goods and services.
  5. 9. Economic growth or an increase in living standards.
  6. 11. The cost of what you have to give up.
Down
  1. 1. The total value of all goods and services produced in a country in a year.
  2. 2. A tax on imports or exports.
  3. 3. The desire for a certain good or service.
  4. 5. A country with a strong economy and a high standard of living.
  5. 10. The ability and willingness to produce a good or service.
  6. 12. The amount of goods and services produced given the amount of resources used.