Across
- 5. a social science that studies how people use scarce resources to satisfy their wants.
- 10. using a product or service
- 11. building, tools, and machines people create and use to produce final goods and services
- 13. a process that combines economic resources so that the result is a good or service for sale
- 14. withdrawn or negative rewards for some kind of behavior
- 15. positive difference between total sales and total costs
- 17. physical and mental efforts people use to create goods and services
- 18. an arrangement that allows buyers and sellers to make exchanges
- 19. getting a product or service to the consumer
Down
- 1. the study of individual consumers and businesses
- 2. an in equality between wants and the resources to satisfy them
- 3. the imagination, innovative thinking, and management skills needed to start and operate a business.
- 4. referred to as natural resources
- 6. economy that relies on voluntary trade as the primary means of organizing and coordinating production
- 7. land, labor, and capital resources
- 8. study of the economy as a whole
- 9. positive rewards for making some kind of choice
- 12. the highest valued alternative given up as a result of a choice
- 16. the extra or additional costs or benefits of a decision
- 20. exchanging something for something else