Fundamental economics concepts

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Across
  1. 5. any situation where making one choice means losing something else
  2. 7. the natural, human, and capital re- sources used to make goods and services
  3. 9. a graph that shows all the different combinations of output of two goods that can be produced using available resources and technology
  4. 12. a factor of production, similar to labor, as one of the crucial elements in creating goods and services.
Down
  1. 1. the process of discovering new ways of combining resources
  2. 2. the potential forgone profit from a missed opportunity
  3. 3. the general body of wage earners
  4. 4. something that is desired
  5. 6. limited productive resources, unlimited wants
  6. 8. liquid assets
  7. 10. anything a human being needs for the survival
  8. 11. money or a prize offered to make someone behave in a particular way