economics crossword

6. physical objects such as clothes or shoes
7. any human-made resource that is used to create other goods and services
8. a graph that shows alternative ways to use an economy's resources
11. an item that we desire but that is not essential to survival
12. the most desirable alternative given up as a result of a decision
13. goods that last
14. limited quantities of resources to meet unlimited wants
20. resources that are used to make goods and services
21. the skills and knowledge gained by a worker through education and experience
24. using fewer resources than an economy is capable of using

1. the line on a production possibilities graph that shows the maximum possible output
2. a situation in which a good or service is unavailable
3. using resources in such a way as to maximize the production of goods and services
4. land, labor, and capital; the three groups of resources that are used to make all goods and services
5. to an economist, the alternative that is given up because of a decision
9. deciding whether to do or use one additional unit of some resource
10. the effort that people devote to a task for which they are paid
15. an alternative that we sacrifice when we make a decision
16. all human-made goods that are used to produce other goods and services; tools and buildings
17. an ambitious leader who combines land, labor, and capital to create and market new goods and services
18. a phrase that refers to the trade-offs that nations face when choosing whether to produce more or less military or consumer goods
19. the study of how people seek to satisfy their needs and wants by making choices
22. dollar value of a final product
23. actions or activities that one person performs for another
25. something like air, food, and shelter that is necessary for survival