Chapters 1-4 Review

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Across
  1. 3. - Labour _______ - people in work and those actively seeking work
  2. 4. - __________ Immobile - Incapable of moving from one location to another location
  3. 5. - Goods and services produced by the factors of production
  4. 6. - Spending on capital goods
  5. 9. - human effort used in producing goods and services
  6. 10. - risk bearing and key decision making in business
  7. 11. - human-made goods used in production
  8. 14. - gifts of nature available for production
  9. 17. A situation where there is not enough to satisfy everyone's wants
  10. 18. The ______ Problem - Unlimited wants exceeding finite resources
Down
  1. 1. - ___________ cost - The best alternative forgone
  2. 2. - _________ Mobile - Capable of changing use
  3. 7. - __________ Good - A product which does not require any resources to make it and so does not have an opportunity cost
  4. 8. - A curve that shows the maximum output of two types of products and combinations of those products that can be produced with existing resources and technology
  5. 12. - Labour ___________ - Output per worker hour
  6. 13. - ________ Goods - Goods and services purchased by households for their own satisfaction
  7. 15. - _________ of Production - the economic resources of land, labour, capital and enterprise
  8. 16. - _________ Good - A product which requires resources to produce it therefore has an opportunity cost