Across
- 8. First female chair woman of the federal reserve
- 9. Created from scare resources and are limited in supply
- 10. When scarcity forces us to choose and give up other opportunities
- 12. Valued things that are ideas I.e: Services
- 14. When the economy gets the most out of its scarce resources
- 16. What you loose when you make a choice
- 17. Holding all other things constant
- 18. When people are willing to pay for an intangible act
- 19. Objects that can be physically touched I.e: Goods
- 21. Items that we add value to
- 22. When our wants out way our resources
- 23. An idea that tries to explain a phenomena
Down
- 1. capitalists What kind of market the US is
- 2. When households are buyers and firms are sellers
- 3. Economic behavior is usually determined by self-interest and ____________
- 4. Inputs + production process = outputs
- 5. When households are sellers and sell the use of their inputs to firms
- 6. Man made goods used in the production of other goods
- 7. The study of choices we make among out many wants and desires given our limited resources
- 9. The use of data to test a hypothesis
- 11. Small business making economic decisions
- 13. Inputs-land, human effort, machines and factories
- 15. Where the outcome of a participant's choice of action depends critically on the actions of other participants
- 20. The process of buyers and sellers exchanging goods and services