Economics Vocabulary Crossword Puzzle

2. the total satisfaction received from consuming a good or service.
4. Is the amount of physical, mental, and social effort used to produce goods and services in an economy
5. The state of being scarce or in short supply; shortage
8. Is the process of discovering new ways of combining resources
10. Land resources are the raw materials in the production process. These resources can be renewable, such as forests, or nonrenewables such as oil or natural gas.
12. a curve that illustrates the possible quantities that can be produced of two products if both depend upon the same finite resource for their manufacture.
15. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship
17. Economic incentives are financial motivations for people to take certain actions

1. The value that person places on an economic good based on the benefit that they derive from the good.
3. involves a sacrifice that must be made to get a certain product or experience
6. Desires that can be satisfied by consuming a good, service, or leisure activity.
7. Is typically cash or liquid assets being held or obtained for expenditures.
9. the action of helping or doing work for someone for the benefit of the economy.
11. An accumulation of valuable economic resources that can be measured.
13. Something that the people need to survive or stay comfortable
14. merchandise or possessions, Items that satisfy human wants and provide utility.
16. the loss of potential gain from other alternatives when one alternative is chosen