Section 1 Crossword

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Across
  1. 3. human resources
  2. 4. basic economic problem because of limited resources
  3. 7. physical items like food
  4. 10. efficiency occurs when the economy is utilizing all of its resources efficiently
  5. 11. economics studies economic behavior without making judgments
  6. 13. is a measure that can change from observation to observation
  7. 14. efficiency is a type of economic efficiency in which producers produce only those types of goods and services that are more desirable in the society while in high demand
  8. 15. study of the economy as a whole
  9. 16. something a person would like to have but it is not necessary for survival
  10. 18. using our limited resources wisely
  11. 20. actions one does for another
  12. 22. is price-determined
  13. 23. where goods and services produced by businesses are sold to households
Down
  1. 1. refers to markets where services of the factors of production are bought and sold
  2. 2. economics analyzes outcomes of economic behavior and suggests courses of action
  3. 5. market profit opportunities are eliminated almost instantaneously
  4. 6. capital resources
  5. 8. cost is the best alternative
  6. 9. study of individual consumers and businesses
  7. 12. people who decided how to combine resources to create new goods and services.
  8. 17. growth is an increase in the total output of the economy
  9. 19. something a person cannot live without
  10. 21. natural resources