Across
- 5. The selection of an item or action from a set of possible alternatives.
- 6. The inability to satisfy all wants at the same time because all resources and goods are limited.
- 8. The using of goods and services.
- 9. The combining of human, natural, capital, and entrepreneurship resources to make goods or provide services.
- 10. The amount of a good or service that producers are willing and able to offer for sale at each possible price during a given period of time.
Down
- 1. Factors of production that are used in the production of goods and services.
- 2. Cost: what is given up when a choice is made (the second-best alternative).
- 3. The amount of a good or service that consumers are willing and able to buy at different prices during a given time period.
- 4. Price: the point where supply and demand meet.
- 7. The amount of money exchanged for a good or service that is determined by supply and demand.