Across
- 1. Result of people having unlimited wants and limited resources
- 5. How indvidual's,businesses and gov't choose to use limited resources to satisfy unlimited wants
- 6. Change in total cost paid for one more unit
- 9. Way a person lives that can increase with education/training
- 10. Individual or businesses concentrate on a single activity or an area of expertise when producing a good or server
- 11. Value of the next best choice that is given up when making a choice
Down
- 1. When a resource, good, or service becomes unavailable for a period due to market conditions
- 2. What motivates individuals, businesses, and gov't to undertake or avoid an action
- 3. Efficiency with which goods and services are produced
- 4. The way a country organizes economic activity and makes economic decisions
- 7. Total satisfaction gained from consuming/using a good or service
- 8. Distribution of goods