chapter 1 vocab talon

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Across
  1. 1. business creaters
  2. 4. used to produce other goods
  3. 5. the sum of people’s skills
  4. 9. social science involving needs and wants
  5. 12. good that lasts less than 3 years
  6. 14. what is given up when making a choice
  7. 15. tangible item
  8. 19. difference in vital vs non vital prices
  9. 22. monetary worth
  10. 23. private owned producers
  11. 25. good for consumers
  12. 26. non vital item
  13. 29. items used to create the work force
  14. 31. where goods are sold
  15. 32. represents all combinations of goods and demand
Down
  1. 1. nation’s total output of goods and services increases over time
  2. 2. oversimplified chart of cost-benefit-analysis comparison of cost and benefit
  3. 3. This means that we rely on others
  4. 6. quality of life
  5. 7. where products are sold
  6. 8. resources needed to produce
  7. 10. lack of something
  8. 11. is a measure of the amount of goods and services produced over a period of time.
  9. 13. natural resources
  10. 16. total value
  11. 17. next best alternative
  12. 18. where parts of production are sold
  13. 20. is a way of organizing work so that each worker or work group completes a separate part of the overall task
  14. 21. work or labor for a person
  15. 24. good that lasts 3 years
  16. 26. collection of good
  17. 27. rquired
  18. 28. what an item does
  19. 30. educate buyers about purchases