Across
- 3. decision-making: Process of choosing an option after evaluating the available information and weighing the costs and benefits of the alternatives.
- 5. Branch of economics that studies human behavior and choices that relate to the entire economy of a nation.
- 6. Use of science to invent useful things or to solve problems.
- 7. When something is given up in order to gain something else.
- 10. Amount of work a person can do in a specific amount of time, usually an hour.
- 11. Willingness and ability to start a new business.
- 14. Work performed by people in businesses.
- 15. Transportation systems and utilities necessary in a modern economy.
- 16. Tools and machinery used to produce goods or provide services.
Down
- 1. Branch of economics that studies human behavior and choices that relate to the economic decisions of individuals and businesses.
- 2. cost: Value of the next-best option that was not selected.
- 4. Science that examines how goods and services are produced, sold, and used.
- 8. of production: Economic resources a nation uses to make goods and supply services for its population.
- 9. Person who starts a business.
- 12. When demand is higher than the available resources.
- 13. goods: Products businesses use to produce other goods.