Across
- 4. A measure of the efficiency with which goods and services are produced
- 6. Physical articles that have been produced for sale or use
- 8. The willingness and ability to take the risks involved in starting and managing a business
Down
- 1. The resources used to produce goods and services, defined as land, labor, and capital
- 2. A simple model of the economy that shows all the combinations of two goods that can be produced with the resources and technology currently available
- 3. The value of the next best alternative that is given up when making a choice
- 5. The tools, machines, and buildings used to produce goods and services
- 7. Work done by someone else for which a consumer, business, or government is willing to pay