Fundamental Economics

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Across
  1. 3. act of willingly trading one item or service for another based on value
  2. 4. comparing marginal costs and marginal benefits of a choice or action
  3. 5. result of people having unlimited wants and limited resources
  4. 7. gifts of nature we use to produce goods and services
  5. 9. what motivates individuals, business, and govt's to undertake or avoid an action
  6. 11. way a person lives that can increase with education/training
  7. 12. distribution of goods
Down
  1. 1. change in total cost paid for on more unit
  2. 2. change in total benefit received from one more unit
  3. 6. knowledge and skills people gain from education, job training, and experience
  4. 8. when a resource, good, or service becomes unavailable for a period due to market conditions
  5. 10. how individuals, businesses, and gov'ts choose to use limited resources to satisfy unlimited wants