Across
- 4. management skills needed to start a business.
- 6. extra or additional costs or benefits of a decision.
- 8. an inequality exists between wants and the resources available to satisfy them.
- 9. the result is a good or service
- 10. often relate to such things as fines or punishment
- 12. buildings,tools,and machines people create and use to produce final goods and services.
- 14. completes the want-satisfaction chain
- 15. science that studies how people decide to use scarce resources to satisfy their wants.
- 16. cost: highest valued alternative.
- 17. the physical and mental efforts people use to create goods and services
- 18. exchanging something for something else.
Down
- 1. economy: economy that relies on voluntary trade.
- 2. arrangement that allows buyers and sellers to make exchanges.
- 3. positive difference between total sales and total costs
- 5. of production: economics called land, labor, and capital resources.
- 7. positive rewards for making some kind of choice.
- 11. process of getting a product or service to consumers
- 13. soil, minerals,timber, and fresh water