Across
- 3. The limited availability of a commodity, which may be in demand in the market or by the consumers
- 6. A resource that encompasses the natural resources used in production
- 7. Things that you require to function such as food and water
- 8. Cost The value of the next highest valued alternative use of that resource
- 11. Possibilities Frontier A curve that illustrates the variations in the amount that can be produced of two goods which can be produced within the given resources
- 12. A business run by one person who takes on great financial risks
Down
- 1. Desires that can be satisfied by consuming a good, service, or leisure activity
- 2. The amount of physical, mental, and social effort used to produce goods and services in an economy
- 4. A situational decision that involves diminishing or losing one quality item in exchange for another
- 5. Anything that motivates a person to do something
- 9. Resources resources used to make goods and services (include land, labor, capital, and entrepreneurship
- 10. The wealth or financial strength of an individual or company