Economics Unit 1 Vocabulary

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Across
  1. 5. Something you must have to survive
  2. 7. Something used to create or support a good or service
  3. 11. the opinion of the larger percentage of a group, 51% or greater, overrides the smaller percentage
  4. 12. Method of distributing resources
  5. 14. Something gained when making a decision
  6. 15. Used to motivate someone to do something
  7. 16. Different methods of governing
  8. 17. Something given or lost when making a decision
Down
  1. 1. Used to create and distribute a good or service; this includes land, labor, capital, and entrepreneurship
  2. 2. weighing the costs and benefits of one decision over the costs and benefits of another
  3. 3. the value of the next-best alternative; what you give up by choosing one alternative over the other
  4. 4. Something you give up to get something else; the alternative you give up when making an economic decision
  5. 6. Temporary unavailability of something
  6. 8. Exists when you have unlimited wants and limited resources
  7. 9. Something you desire
  8. 10. Something that makes logical sense
  9. 13. the winner is chosen at random