Economics Vocabulary

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Across
  1. 3. Goods and services are produced in better quality, quantity and speed when people focus on producing a few things instead of making everything they want by themselves
  2. 4. The substance with which you make bread
  3. 6. board, timber, or wood
  4. 10. A relationship between countries in which they rely on one another for resources, goods, or services
  5. 11. Exchange of goods and services
  6. 12. to settle by discussing
  7. 15. Arrangement of resources across Earth
  8. 16. Limited quantities of resources to meet unlimited wants
  9. 17. An amount that must be paid or spent to buy or obtain something
Down
  1. 1. Advantages
  2. 2. Weighing the costs and benefits of alternatives in making an economic decision
  3. 5. A situation in which a good or service is produced at the lowest possible cost
  4. 7. Exchange goods without involving money
  5. 8. A rock that contains a large enough concentration of a mineral making it profitable to mine
  6. 9. All the things used in producing goods and services
  7. 13. More of something than is needed
  8. 14. A block of hard material used in building