Across
- 2. the value of all the goods and services a country produces.
- 4. producing goods or services using the least amount of resources while maximizing output.
- 6. the difference between a business's total revenue and the total opportunity costs of all resources used in the production process
- 7. the branch of economics focused on the economy of a country or region
- 8. the study of how people, businesses, and governments decide to use limited resources to meet their needs and wants
- 10. when resources are limited, but wants are unlimited
Down
- 1. the extra gain from doing one more of something
- 3. an economic system in which individuals and businesses own resources and make decisions
- 5. the value of what you give up when you make a choice
- 9. determined by supply and demand