Across
- 2. the highest valued alternative given up as a result of making a choice
- 4. the study of individual consumers and businesses
- 5. a negative or withdrawn reward
- 7. combining economic resources so they can be sold
- 8. natural resources such as soil, minerals, timber, and fresh water
- 10. land, labor, and capital resources
- 12. an inequality exists between wants and available resources
- 14. the study of the economy as a whole
- 15. an arrangement that allows buyers and sellers to make exchanges
- 18. exchanging something for something else
- 19. an economy that relies on voluntary trade as the primary means of organization and coordinating production
- 20. the building, tools, and machines people create and use to produce final goods and services
Down
- 1. using a product or service
- 3. gains
- 6. the imagination, innovative thinking, and management skills needed to start and operate a business
- 7. a positive difference between total sales and total costs
- 9. a social science the studies how people act
- 11. positive rewards for making some kind of choice or behaving in a certain way
- 13. losses
- 16. the extra or additional costs or benefits of a decision
- 17. the process of getting a product or service to consumers