Across
- 3. act of willingly trading one item or service for another based on value
- 4. comparing marginal costs and marginal benefits of a choice or action
- 5. result of people having unlimited wants and limited resources
- 7. gifts of nature we use to produce goods and services
- 9. what motivates individuals, business, and govt's to undertake or avoid an action
- 11. way a person lives that can increase with education/training
- 12. distribution of goods
Down
- 1. change in total cost paid for on more unit
- 2. change in total benefit received from one more unit
- 6. knowledge and skills people gain from education, job training, and experience
- 8. when a resource, good, or service becomes unavailable for a period due to market conditions
- 10. how individuals, businesses, and gov'ts choose to use limited resources to satisfy unlimited wants