Across
- 1. using resources in a way that maximizes output
- 4. limited goods and services are available to meet unlimited wants
- 6. extra cost of adding one unit
- 7. governments must decide between spending money on military or domestic needs
- 11. study of how people make choices to satisfy their needs/wants
- 14. using fewer resources than an economy is capable of
- 15. giving up one benefit for another, greater benefit
- 16. people who decide how to combine resources to produce a good or service
- 18. all natural resources used to produce a good or service
- 19. human-made objects
- 20. the knowledge and skills a worker has or gains
Down
- 2. land, labor, and capital are referred to as
- 3. extra benefit of adding one unit
- 5. effort people devote to tasks for which they are paid
- 8. actions or activities that one person performs for another
- 9. the most desirable alternative given up as the result of a decision
- 10. essential for survival
- 12. something we desire
- 13. physical objects someone produces
- 17. when consumers want more of a good than producers have available