Across
- 2. Possibilities Curve, A curve depicting all maximum output possibilities for two goods
- 3. The financial gain made in a transaction
- 5. Analysis, An examination of the additional benefits of an activity compared to the additional costs incurred by that same activity.
- 7. deciding how much more or less to do
- 8. Economy, An economy that has characteristics of both market and command economic systems.
- 11. the distribution of a limited quantity resources over various time periods.
- 12. The study of how people seek to satisfy their needs and wants by making choices.
- 13. Economy, Centrally planned economy with all economic and political power resting in the hands of the central government
- 14. Hand, The self-regulating nature of the marketplace.
- 16. Market Economy, Economy in which society's economic decisions are made by individuals deciding what to produce and buy.
- 19. Market, Market in which firms purchase the factors of production from households
- 21. natural resources
- 23. short supply
Down
- 1. the willingness to take a financial risk
- 4. statements, Expresses a value judgment about whether a situation is desirable or undesirable.
- 6. Faire, Doctrine that the government generally should not intervene in the marketplace
- 9. statements, Objective statements that can be tested, amended or rejected by referring to the available evidence.
- 10. The alternative that is given up because of a decision
- 13. refers to financial wealth, especially that used to start or maintain a business
- 15. a compromise
- 17. The income generated from normal business operations and includes discounts and deductions for returned merchandise.
- 18. System, The method used by a society to produce and distribute goods and services.
- 20. Market, Where businesses go to purchase inputs needed for production.
- 21. a persons work
- 22. ability or capacity of a good or service to be useful and give satisfaction to someone