Across
- 1. occurs when market price is lower than equilibrium price
- 3. type of economic growth where productive potential decreases
- 6. human wants are ____
- 7. the type of demand that occurs between milk and yogurt
- 8. food, water, shelter, etc
- 11. the type of specialization that occurs between countries
- 13. the sector that includes raw material extraction
- 14. the motivation behind a government's actions
- 17. the demand for this good decreases as income increases
- 19. occurs when market price is higher than equilibrium price
- 21. location on the PPF where production is unattainable
- 23. where quantity supplied is equaled to quantity demanded
- 24. the type of supply that occurs between leather and beef
- 25. a type of resource (ie coal, oil, copper, etc)
- 27. the benefit forgone of the next best alternative
- 29. most countries are this type of an economy
- 30. the demand for this good increases as income increases
Down
- 1. occurs because resources are finite
- 2. the service sector
- 4. the demand for this good increases as the price of another increases
- 5. the demand for this good decreases as the price of another increases
- 9. individuals, firms, government agencies
- 10. output per unit of input employed
- 12. ___ job satisfaction, a disadvantage of specialization
- 15. a type of economy where goods are allocated by the price mechanism
- 16. land, labour, entrepreneurship, ____
- 18. a type of capital
- 20. the sector where raw materials are transformed into goods
- 22. workers who are lazy
- 26. members of the workforce
- 28. a type of economy where goods are allocated by the government