Across
- 3. positive difference between total sales and total costs
- 4. study of the economy as a whole
- 5. fines or punishment
- 6. positive rewards for making some kind of choice or behaving in a certain way
- 7. study of individual consumers and businesses
- 8. gains
- 11. social science that studies how people decide to use scarce resources to satisfy their wants
- 12. buildings, tools, and machines used to produce final goods and services
- 15. losses
- 18. a process that combines economic resources so the result is a good or service available for sale
- 20. process of getting a product or service to consumers
- 21. highest valued alternative that is given up as a result of making a choice
- 22. extra or additional costs or benefits of a decision
Down
- 1. economy that relies on voluntary trade as the primary means of organizing and coordinating production
- 2. exchanging something for something else
- 9. land, labor, capital resources, and entrepreneurship
- 10. using a product or service
- 13. natural resources used to produce goods and services
- 14. arrangement that allows buyers and selling to make changes
- 16. the wants of consumers outweigh the resources available to satisfy them
- 17. imagination, innovative thinking, and management skills needed to operate a business
- 19. physical and mental efforts people use to create goods and services