Across
- 2. An economic system in which both government and individuals play important roles in production and consumption
- 5. An economic system in which economic decisions are made by producers and consumers through voluntary exchange
- 6. Cost-The value of the next best alternative given up when making a choice
- 8. The efficiency with which goods and services are produced
- 9. The concentration of individuals or businesses on a specific activity or area of expertise when producing goods or services
- 10. The distribution of goods and resources
- 11. The total satisfaction or usefulness derived from consuming or using a good or service
Down
- 1. The way a country organizes economic activity and makes decisions about production and consumption
- 3. An economic system in which decisions about production and consumption are made by a central authority or government
- 4. Motivations that influence individuals, businesses, and governments to take or avoid certain actions
- 7. The result of unlimited wants and limited resources, leading to the need for choices and trade-offs
- 9. A temporary situation where a resource, good, or service becomes unavailable due to market conditions