Economics Vocabulary

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Across
  1. 8. the expenses of running a business
  2. 9. resources that humans create
  3. 10. how much of something is available
  4. 11. giving something to acquire something else
  5. 12. this type of economy combines market and command economic systems to have mostly free trade and some government involvement
  6. 13. in a _____ economy, producers and consumers are free to buy and sell anything they want
  7. 14. in a _____ economy, the government controls all resources and makes all economic decisions
  8. 16. what you give up by choosing one thing over another
  9. 17. the money gained from selling goods or services
  10. 18. a tangible item that can be used or traded
  11. 19. skills or knowledge that can be used or traded
Down
  1. 1. if you can produce something with less opportunity cost
  2. 2. revenue minus overhead
  3. 3. if you can produce more of something
  4. 4. how many people want a good or service
  5. 5. resources that come from the Earth
  6. 6. in a _____ economy, customs and habits of past generations decide what will be produced
  7. 7. how much something costs
  8. 15. anything that people can use or trade