Marlow Soyka- Chapter 1 review

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Across
  1. 5. a way of describing and explaining what economic behavior ought to be
  2. 7. numerical data or information
  3. 8. the capacity to be useful and provide satisfaction.
  4. 10. any human-made resource that is used to produce
  5. 11. when a nation's total output of goods and services increases over time
  6. 12. growth
  7. 14. the use of fewer resources than an economy is capable of using
  8. 15. a graph used to illustrate the impact of scarcity on an economy
  9. 16. refers to the benefit or satisfaction received from using one more unit of a good or service
  10. 17. objects that someone produces
  11. 19. the money used to buy the tools and equipment used in production.
  12. 21. a way of describing and explaining economics as it is
  13. 22. the act of giving up one benefit in order to gain another
  14. 25. sacrifice/gain
  15. 27. limited amounts of goods
Down
  1. 1. the condition in which economic resources are being used to produce the maximum amount of goods and services
  2. 2. a risk-taker in search of profits who does something new with existing resources.
  3. 3. essential for surviving
  4. 4. something that people desire
  5. 6. the study of the behavior of the economy as a whole and involves topics such as inflation
  6. 9. economic system in which families,or tribes make economic decisions based on beliefs
  7. 13. the cost of using one more unit of
  8. 18. cost the desirable alternative given up as the result of a decision
  9. 20. all natural resources used to produce goods
  10. 23. the effort people devote to tasks for which they are paid
  11. 24. the study of the behavior of individual players in an economy
  12. 26. the study of how people make choices