Across
- 3. Explains economics the way it is.
- 4. The study of the behavior of the economy as a whole.
- 6. Products provided by government and consumed by the public.
- 7. All the resources made and used by people to produce and distribute goods/services.
- 9. The study of how people choose to use scarce resources to satisfy their wants.
- 11. The combination of vision, skill, ingenuity, and willingness to take risks that are needed to run a new business.
- 15. Desires that can be satisfied by consuming a good or service
- 19. The situation that exists when there are not enough resources to meet human wants.
- 20. Study of individuals, families, and businesses.
Down
- 1. Buyers and seller do business together, in which they both benefit from the transaction.
- 2. The value of the next - best alternative.
- 5. Economics rely heavy on _____. They look for patterns of behavior - to aid them in making predictions.
- 8. All the natural resources found on or under the ground.
- 10. Using skills you specialize in to produce unrelated goods, work for money, buy household items such as food.
- 12. Explains economics as it should be.
- 13. The benefit or satisfaction gained from the use of a good or service.
- 14. Rewards / money that would be given if a certain task is completed.
- 16. Means to "make decisions according to what you believe is the best combination of costs and benefits.
- 17. All the human time, talent, and effort going into making the product.
- 18. Things that are necessary for survival
- 20. Type of economy that uses elements of all three economies.