Across
- 2. The next best alternative forgone when making a choice.
- 4. Scarce and useful products that involve an opportunity cost.
- 7. A situation where demand is greater than supply at the current price.
- 8. A place (physical or virtual) where buyers and sellers meet to exchange goods and services.
- 9. Businesses owned and run by individuals rather than the government.
- 10. Intangible products such as healthcare, education, or transport.
Down
- 1. The ability to bring together resources and take risks to run a business.
- 3. When demand changes very little despite a change in price.
- 5. The willingness and ability of consumers to buy a product at a given price.
- 6. The point at which demand equals supply.