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