Economics

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Across
  1. 2. next best choice
  2. 4. right to own something
  3. 6. tax placed on imported and exported products
  4. 7. assignment of tasks to the workers, factories, regions, or nations that can perform them more efficiently
  5. 10. government payment to encourage or protect a certain economic activity
  6. 11. limit on the amount of a good that is allowed into a country
  7. 13. free trade
  8. 15. fundamental economic problem facing all societies that results from a combination of scarce resources and peoples virtually unlimited wants
Down
  1. 1. Country's ability to produce a given product relatively more efficiently then another country; production at a lower opportunity cost
  2. 3. cost for doing business
  3. 5. both sides benefit from the trade
  4. 8. alternative that must be given up when one choice is made rather than another
  5. 9. things that get in the way of trading
  6. 12. measure of the amount of output produced with a given amount of productive factors; normally refers to labor, but can apply to all factors of production
  7. 14. a ban on trade with a certain country