Economics Unit 1 Review

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Across
  1. 3. This market is where producers sell their goods and services
  2. 5. Workers and their skills
  3. 6. ________ cost. the loss of potential gain from other alternatives when one alternative is chosen
  4. 9. A person who purchases goods and services for personal use
  5. 10. A type of good that lasts shorter than three years
  6. 12. A type of good that lasts longer than three years
  7. 15. This market sells factors of production
Down
  1. 1. A risk taker who creats something new with existing resources
  2. 2. Tools, money, equiptment, space, and all things provided to operate a business
  3. 4. A person, company, or country that makes, grows, or supplies goods or commodities for sale
  4. 7. Contains resources not created by man
  5. 8. When the economy grows, the PP curve moves _________
  6. 11. A transaction that does not involve a physical good
  7. 13. the set of points at which a country's economy is most efficiently allocating its resources to produce as many goods as possible
  8. 14. An item that satisfies a human want or need