The Basic Economic Problem

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Across
  1. 2. Items we have to have for our survival.
  2. 4. Things we wish we could have.
  3. 8. Wants that are shared and consumed collectively with others in society.
  4. 9. The fundamental issue of scarce resources relative to peoples' needs and wants. The underlying issue of the study of economics.
  5. 10. The study of the allocation of scarce resources.
Down
  1. 1. Things used in the production of goods and service.
  2. 3. Goods that are scarce and therefore have an economic value.
  3. 5. The situation that arises when resources are limited in relation to unlimited wants.
  4. 6. Your individual wants that are not shared by anyone else.
  5. 7. Goods that are not scarce and therefore have no economic value.