Kevin Benitez- Chapter 1 Lesson 2 Vocab

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Across
  1. 4. A measure of the efficiency with which goods and services are produced
  2. 6. Physical articles that have been produced for sale or use
  3. 8. The willingness and ability to take the risks involved in starting and managing a business
Down
  1. 1. The resources used to produce goods and services, defined as land, labor, and capital
  2. 2. A simple model of the economy that shows all the combinations of two goods that can be produced with the resources and technology currently available
  3. 3. The value of the next best alternative that is given up when making a choice
  4. 5. The tools, machines, and buildings used to produce goods and services
  5. 7. Work done by someone else for which a consumer, business, or government is willing to pay