Across
- 4. economic system based on habit and custom
- 5. ___ market is where productive resources are bought and sold
- 7. brings together buyers and sellers
- 10. measure of the amount of output produced in a specific time period
- 11. asking the "why" and "how" questions
- 13. goods and services are purchased in the __ market
- 14. an economic ___ is a simplified version of a complex concept or behavior
- 15. ability or capacity of a good or service to be useful
- 16. “gifts of nature”
Down
- 1. social science dealing with how people make choices
- 2. effort a person devotes to a task for which that person is paid
- 3. not physical
- 5. command economies lack this
- 6. basic requirement for survival
- 8. fundamental economic problem
- 9. ___ cost is the next best alternative given up
- 12. work or labor performed for someone