Economics Unit 1 & 2 Vocab

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Across
  1. 2. Alternatives that we give up when we choose on course of action over another
  2. 4. Extra benefit of adding one unit
  3. 7. Knowledge and skills gained from education and experience
  4. 9. Resources that are used to make goods and services
  5. 13. Effort people devote to tasks for which they are paid
  6. 14. Human-made objects used to create other goods and services
  7. 15. Something essential for survival
  8. 17. Most desirable alternative given up as the result of a decision
  9. 18. Idea that a country produces guns has fewer resources to produce butter (consumer goods) and vice-versa
  10. 19. Situation in which people want more of a good or service than producers are willing to supply at a particular price
  11. 20. Anything that people use to make things or do work
Down
  1. 1. Extra Cost of adding one unit
  2. 3. Principle that limited amounts of goods and services are available to meet unlimited wants
  3. 5. All natural resources used to produce goods and services
  4. 6. Something that people desire but is not necessary for survival
  5. 8. Study of how people seek to satisfy their needs and wants by making choices
  6. 10. Actions or activities that one person performs for another
  7. 11. Any human-made resource used to produce goods or services
  8. 12. A process in which you compare what you will sacrifice and gain by a specific action
  9. 16. Physical objects that people, businesses, or governments buy