Across
- 3. resources used to produce goods and services
- 4. individual or businesses concentrate on a single activity or an area of expertise when producing a good or service
- 5. system in which economic decisions are left up to producers and consumers
- 7. result of people having unlimited wants and limited resources
- 9. the way a country organizes economic activity and makes economic decisions
- 10. how individuals, businesses, and gov'ts choose to use limited resources to satisfy limited wants
- 12. what motivates individuals, businesses, and gov'ts to undertake or avoid an action
Down
- 1. value of the next best choice that is given up when making a choice
- 2. economic system in which both gov't and individuals play important roles in production and consumption;most common type of economy
- 6. system in which decision about production and consumption are made by a central authority or gov't
- 8. what to produce? how to produce? for whom to produce?
- 11. distribution of goods