economics

3. the demand for a good or service is greater than the availability of the good or service
6. A curve depicting all maximum possibilities for 2 goods, given a set of inputs consisting of resources and other factors
9. something that is desired
10. the natural, human, and capital re- sources used to make goods and services
12. accumulated assets

1. the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives
2. anything a human being needs for their survival
4. the process of developing, organizing, and running a new business to generate profit while taking on financial risk
5. the study of the labor force as an element in the process of production
7. benefits or costs of an action that influence people's decisions and behavior
8. budgeting inevitably involves sacrificing some of X to get more of Y
11. any natural resource used to produce goods and services