Across
- 3. Making decisions according to what a person believes will have the best outcome
- 4. The study of the behavior of individuals in an economy
- 5. The benefit gained from using a good or service
- 8. A way of describing and explaining economics as it is
- 10. Work that a person performs for another for payment
- 14. This states that as production switches from one product to another, more resources are needed after the first time
- 19. Offered benefits to encourage a person to decide something
- 20. Simplified representations of economic activities
- 27. The condition in which economic resources are being used to full potential
- 28. The condition in which economic resources are not being used to full potential
- 30. The price of using one unit of a good or service
Down
- 1. Physical objects that can be purchased
- 2. A way of describing what economic behavior should be
- 6. These are desires that can be satisfied by consuming a good or service
- 7. The alternative that is given up when making a choice
- 9. Numerical data that helps people see patterns
- 11. All the human time, effort and talent that go into making products
- 12. A graph used to illustrate the impact of scarcity on an economy
- 13. The benefit received from using one unit of a good or service
- 15. cost The value of the given up choice
- 16. Examining costs and benefits of a choice to make a decision
- 17. A person who creates businesses
- 18. These are items necessary for survival
- 21. All the resources made and used by people to produce products
- 22. The study of how people use scarce resources to satisfy their wants
- 23. The study of behavior of the economy as a whole
- 24. When there are unlimited wants but limited sources
- 25. A person who makes goods or provides services
- 26. A person who buys goods or services
- 29. Includes all natural resources used to produces goods or services