Fundamental Economics Concepts

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Across
  1. 2. Something that is desired.
  2. 4. How much output can be produced with a given set of inputs.
  3. 8. The process of developing, organizing, and running a new business.
  4. 9. Any natural resource used to produce goods and services.
  5. 11. Liquid assets
  6. 12. A graph that shows all the different combinations of output of two goods.
Down
  1. 1. Benefits or costs of an action that influence people's decisions and behavior.
  2. 3. The demand for a good that's greater than the availability.
  3. 5. Anything a human needs for survival.
  4. 6. Budgeting that inevitably involves sacrificing some of X to get more of Y.
  5. 7. The value of the next-highest-valued alternative use of that resource.
  6. 10. The general body of wage earners.