Understanding Scarcity and Resources

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Across
  1. 3. – When limited resources cannot satisfy unlimited wants.
  2. 6. – Natural resources used to produce goods and services.
  3. 7. – Basic things required for survival, such as food, water, and shelter.
  4. 8. Cost – The next best option given up when making a choice.
  5. 11. Possibilities Frontier (PPF) – A graph showing the maximum combinations of goods that can be produced with available resources.
  6. 12. – The ability to organize resources and take risks to start a business.
Down
  1. 1. – Things people would like to have but are not necessary for survival.
  2. 2. – Human effort used to produce goods and services.
  3. 4. – Giving up one thing to get another.
  4. 5. – Something that motivates people to act.
  5. 9. Resources (Factors of Production) – The resources used to produce goods and services.
  6. 10. – Tools, machines, and buildings used to make goods and services.