Across
- 2. imagination, innovative thinking and management skills needed to start and operate a business
- 3. study of individual consumers and businesses
- 5. the highest value alternative giving up as a result of making a choice
- 7. physical and mental efforts people use to create goods and services
- 9. losses
- 12. positive rewards for making some kind of choice or behaving in a certain way
- 14. study of the economy as a whole
- 15. using a product or service
- 19. economists call land,labor and capital resources
- 20. exchanging something for something else
- 21. process of getting a product or service to consumers
Down
- 1. relate to such things as fines or punishment
- 3. arrangement that allows buyers and sellers to make exchanges
- 4. highest valued alternative given up as a result of making a choice
- 6. soil, minerals, timber, and fresh water
- 8. gains
- 10. resources are the buildings, tools,and machines people create and use to produce final goods and services
- 11. the extra or additional costs or benefits of a decision
- 13. economy that relies on voluntary trade as the primary means of organizing and coordinating production
- 16. a process that combines economic resources so the result is a good or service that is available for sale
- 17. positive difference between total sales and total costs
- 18. exchanging something for something else