Across
- 4. knowledge and skills people gain from education, job training, and experience
- 5. distribution of goods
- 7. change in total benefit received from one more unit
- 8. value of the next best choice that is given up when making a choice
- 10. exchange act of willingly trading one item or service for another based on value
- 11. how individuals, businesses, and gov’ts choose limited resources to satisfy unlimited wants
- 12. when a resource, good, or service becomes unavailable for a period due to market conditions
Down
- 1. what to produce, how to produce, for whom to produce
- 2. comparing marginal costs and marginal benefits of a choice or action
- 3. the tools and equipment used in production
- 6. gifts of nature we use to produce goods and services
- 9. result of having unlimited wants and limited resources