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