Across
- 2. ________ Capital is the knowledge and skills a worker gains through education and experience
- 3. the effort that people devote to a task for which they are paid
- 5. Any human made resource (money, tools, equipment)
- 6. things like air, food, shelter (necessary for survival)
- 9. _____ Capital includes all human made goods used in the production of other goods and services
- 11. physical objects such as shoes and shirts.
- 12. A situation in which unlimited wants exceed the limited resources available to fulfill those wants
- 13. is the study of how people seek to satisfy their needs and wants by making choices
- 14. 3 Basic ________ every society has to answer to determine their economic system
Down
- 1. risk-takers who combine the land, labor and capital into new products
- 4. society's limited natural resources
- 7. _______ Cost - loss of potential gain from other alternatives when one option is chosen
- 8. Things we desire, but isn't essential to survival
- 10. In economic terms, There Is No Such Thing As ____
- 15. actions of activities that one person performs for another