ch 1 economics

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Across
  1. 3. worth of something in dollars and cents
  2. 5. goods sold for survival and satisfaction of the people
  3. 8. theory by adam smith
  4. 12. map of possible production combinations.
  5. 15. what is lost when an economic choice is made
  6. 17. economic problem where the demand is larger than the availability
  7. 20. market comes up with prices instead of the government
Down
  1. 1. goods sold for the production of consumer goods
  2. 2. the social science that studies the production, distribution, and consumption of goods and services
  3. 4. needed for survival
  4. 6. other economic choices
  5. 7. encompasses employee knowledge, skills, know-how, good health, and education in terms of capital
  6. 9. increase or improvement of production of goods and services
  7. 10. how useful something is, how much worth it has
  8. 11. the separation of a work process into a number of tasks, with each task performed by a separate person or group of persons
  9. 13. process where a company or individual decides to focus their labor on a specific type of production
  10. 14. the degree of wealth and material comfort available to a person or community
  11. 16. wanted for satisfaction
  12. 18. land, labor, capital and entrepreneurs risktakers
  13. 19. abundance of tangible possesions