Across
- 4. apparent contradiction between the high value of nonessentials and low value of essentials
- 6. social science dealing with the study of how people satisfy seemingly unlimited and competing wants with the careful use of scarce resources
- 7. people with all their abilities and efforts
- 9. the measure of the amount of output produced by a given amount of input in a specific period of time
- 11. basic requirements of survival
- 16. market where productive resources are bought and sold
- 17. quality of life based on ownership of necessities and luxuries that make life easier
Down
- 1. risk-taking individual in search of profits
- 2. equipment, and factories used in the production of goods and services
- 3. good intended for final use by consumers rather than businesses
- 5. cost of the next best alternative use of money, time, or resources when one choice is made rather than another
- 8. separation of work into a number of separate tasks to be performed by different workers
- 10. work that is performed for someone
- 12. fundamental economic problem that results from the shortage of resources and people's virtually unlimited wants
- 13. an item that is economically useful or satisfies an economic want
- 14. an accumulation of resources
- 15. natural resources not created by