Intro to Economics Vocab

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Across
  1. 1. a gathered amount of valuable resources that can be measured in good or money
  2. 4. when one thing is lost after a choice is made, this usually results in an opportunity being lost
  3. 7. The work done by a body of people for a wage
  4. 8. any reward or prize that motivates a person to finish a task
  5. 9. a good and or service that benefits and is resourceful to society
  6. 10. a transaction that includes no physical or perishable goods be transferred between people
  7. 13. the value of a product that would be considered "the next best thing" the value of the things given up
  8. 14. resources natural and human products used to make goods and provide services
  9. 16. something a person would require to survive
  10. 17. When the demand for goods and service is higher than what a business or supplier can provide
  11. 18. the amount of benefit measured from a good or service
Down
  1. 2. a person understanding and committing to the risk of starting a new company or business
  2. 3. an area occupied by all natural resources
  3. 5. the combination of products to create something for consumption
  4. 6. resources that are used for production of goods and services such as marketing
  5. 11. a curve that shows the different amounts of 2 or more different products
  6. 12. the complete amount of happiness or the satisfactory level coming from the customer after having consumed a product
  7. 15. something thats desired