Principles of Economics

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Across
  1. 3. The value of the best alternative that is not chosen When making a choice
  2. 8. Prices of goods and service are determined by supply and demand by sellers and buyers
  3. 9. A graph that shows all the different combinations of output of two goods that can be produced using technology.
  4. 11. The demand for a good or service is greater than availability of the good or service.
  5. 12. Someone who organizes,manages,and assumes the risk for business or enterprise
  6. 13. When you choose one thing which causes you to have give up, sacrifice,another
Down
  1. 1. The sense of regret after having made a purchase
  2. 2. Government tradeoffs in spending on national defense or domestic programs.
  3. 4. Maximize the production of goods and service \
  4. 5. An economic system that combines both capitalism and socialism
  5. 6. The process by which education increases productivity and results in higher wages.
  6. 7. More resources become more available or technology improves or both
  7. 10. Government controls the means of production and determines output levels
  8. 11. The quantity of the product or service demanded is greater than the quantity supplied at market price.