Economics Vocabulary

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Across
  1. 3. - Anything that can be bought and sold.
  2. 5. - A service or other asset used to produce goods and services that meet human needs and wants.
  3. 6. - The study of how people use limited resources to satisfy unlimited wants
  4. 8. - Work that someone/something is willing to pay for.
  5. 10. - Highest value alternative that must be given up when scarce resources are used for one purpose instead of another.
  6. 12. - Additional satisfaction (benefit) or utility (cost) lost from consuming an additional unit of a good or service.
  7. 14. Economics - Economic study based on an opinion or a set goal to be achieved
  8. 15. - Additional satisfaction (benefit) or utility (cost) gained from consuming an additional unit of a good or service.
  9. 16. - A system used to manage limited resources
  10. 17. - Something that motivates a person/thing to take particular a course of action
  11. 18. - Study of “the economy” as a whole
Down
  1. 1. - Way to compare the costs of an action with the benefits of that action
  2. 2. Economics - Economic study based on scientific method and math
  3. 4. - Something that is gained
  4. 7. - Something that is spent
  5. 9. - The exchange of one benefit or advantage for another that is better.
  6. 11. - The result of people having limited resources but unlimited wants.
  7. 13. - Study of how individual consumers and firms make choices.