Across
- 2. Economics statements that are factual
- 5. a country can produce more of a certain good than another country
- 7. a result of an activity
- 8. the additional cost over and above costs already incurred
- 10. the additional benefit above and beyond what has already accrued
- 11. what you put in a production process to achieve an output
- 12. the quantity of a good demanded is inversely related to the good's price
Down
- 1. the quantity of a good supplied is directly related to the good's price
- 3. the goods available are too few to satisfy individuals' desires
- 4. a resource is better suited to the production of one good than to the production of another good
- 6. the benefit forgone of the next-best alternative to the activity you have chosen
- 9. Economics statements that involve value judgements