Across
- 2. when the demand for a product or service exceeds its supply in a market
- 3. involves a sacrifice that must be made to get a certain product or experience
- 5. of production describes the inputs that are used in the production of goods or services in order to make an economic profit
- 7. every resource is optimally allocated to serve each individual
- 8. knowledge concerned with the production, consumption, and transfer of wealth
- 9. all who participate in production by their mental and physical effort
- 10. all naturally occurring resources whose supply is inherently fixed
Down
- 1. person who organizes and operates a business or businesses, taking on high financial risks in order to do so
- 4. a material that satisfies human wants and provides utility
- 6. wealth in the form of money