Across
- 2. includes all natural resources
- 4. the situation that exists when there are not enough resources to meet human wants.
- 11. is the combination of vision, skill, ingenuity, and willingness to take risk that is needed to create and run new business
- 14. a person who makes goods or provides services.
- 16. the study of how people choose to use scarce resources to satisfy their wants.
- 18. the benefits or satisfaction gained from the use of a good or service.
- 19. are physical objects that can be purchased.
- 20. benefits offered to encourage people to act in certain ways
Down
- 1. is all resources made and used by people to produce
- 3. to make decisions according to what you believe is the best combination.
- 5. a person who buys goods or services
- 6. is all human time, effort, and talent
- 7. are desires that can be satisfied by consuming a good or service
- 8. Analysis Aid to decision making.
- 9. are things, such as food, clothing, and shelter, that are necessary for survival.
- 10. cost a decision to value the next best alternative
- 12. are work that one person performs for another payment.
- 13. of Production the economic resources needed to produce goods and services.
- 15. Benefit refers to the benefit or satisfaction received from using one or more unit of a good or service
- 17. Give up and make an economic choice