Across
- 1. the study of how we try to satisfy unlimited wants and needs with limited resources
- 4. capacity to be useful
- 5. typically expressed in dollars and cents; "price" of the object
- 8. an economic concept that describes the unintended greater social benefits and public good brought about by individuals acting in their own self-interests
- 11. someone who uses goods and services to satisfy their wants and needs
- 12. a task someone is responsible to complete for someone else; i.e. oil change at a car mechanic
- 13. labor; capital; land; entrepreneurs
- 14. what to produce? how to produce? for whom to produce?
- 16. difference of costs to essential to non essential goods
Down
- 2. products designed to satisfy people's wants and needs
- 3. used to produce other goods
- 6. scottish 18th century philosopher and economist who discovered the invisible hand
- 7. sum of skills; abilities; health and motivation of people
- 9. condition where unlimited human wants face limited resources
- 10. the cost of the best alternate use of money, time, or resources when one choice is made instead of another
- 15. alternative choices