Across
- 2. Demand for a good or service is greater than the availability of the good or service
- 4. becoming an expert in particular subject/skill
- 5. motivation to do something
- 10. act of buyers/sellers willingly engage in market transactions
- 11. Inputs used to produce good or service in order to produce income
- 13. Used to facilitate purchase/sale of goods and services between parties
- 14. production, investment/prices/incomes determined centrally by a government
- 15. desires and needs of consumers control output of producers
- 16. 1.what to produce 2. how to produce 3. for whom
- 17. cost added by producing 1 additional unit of a product or service
Down
- 1. The knowledge, skills, and health that people invest in and accumulate throughout their lives
- 3. assignment of different parts of manufacturing process to different people to improve efficiency
- 6. production/prices determined by unrestricted competition
- 7. state of quality of being efficient
- 8. Process of discovering new ways of combining resources
- 9. ability of people in society to take economic action
- 12. loss of potential gain from other alternatives when one is chosen