Across
- 3. state of being scarce or in short supply; shortage.
- 5. have a desire to possess or do (something); wish for.
- 6. a model used to show the tradeoffs associated with allocating resources between the production of two goods.
- 10. the natural, human, and capital re- sources used to make goods and services.
- 12. cash or liquid assets being held or obtained for expenditures.
Down
- 1. the process of discovering new ways of combining resources.
- 2. the loss of potential gain from other alternatives when one alternative is chosen.
- 4. of necessity.
- 7. something, often money or a prize, offered to make someone behave in a particular way
- 8. work, especially hard physical work.
- 9. involves a sacrifice that must be made to get a certain product or experience.
- 11. the resource that encompasses the natural resources used in production.