Economics Chapter 1

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Across
  1. 4. Study of large-scale economic activity.
  2. 5. Items (food, clothing, shelter) necessary for survival.
  3. 9. numerical data and/or information
  4. 11. The cost of using more than one good or service
  5. 12. Resources made and used by people to produce and distribute goods and services.
  6. 14. Physical objects that can be purchased.
  7. 15. the maker of goods and provider of services.
  8. 16. economic resources needed to produce goods and services.
  9. 17. work that is performed for another for payment.
  10. 20. Resources not being used to their full potential.
  11. 22. Used to show change over time.
  12. 23. Weighing the benefits of an action against its costs.
  13. 24. Explaining economics as it ought to be, not as it is.
  14. 25. Used to compare numbers or sets of numbers.
  15. 27. the person that buys goods or services for personal use.
  16. 28. Resources being used to produce the maximum for goods and services.
  17. 29. Explaining economics as it is, not as it should be.
  18. 31. The value of the next-best alternative when choosing one over the other.
Down
  1. 1. A graph used to illustrate the impact of scarcity in an economy
  2. 2. Study of individuals, families, and businesses in the economy.
  3. 3. Natural resources to produce goods and services.
  4. 6. Vision, skill, ingenuity and willingness needed to begin and run businesses.
  5. 7. Satisfaction received when using more than one good or service.
  6. 8. The human element needed for making products.
  7. 10. Alternative given up when making an economic choice.
  8. 13. Desires that can be satisfied by consuming a good or service.
  9. 18. The decision personally believed is the best combination of costs and benefits.
  10. 19. Benefits offered to encourage people’s actions.
  11. 21. Shows relationships among the parts of the whole.
  12. 26. The situation when there are not enough resources to meet wants.
  13. 30. The study of how people us scarce resources to satisfy their wants.