Across
- 3. an increase in the total output of an economy
- 8. The number of workers, machines, raw materials and land used to produce these products is limited
- 9. a curve that shows the maximum output of two types of products and combination of those products that can be produced with existing resources and technology
- 11. the total value of the output of capital produced
- 13. the study of how people and businesses to make choice to satisfy unlimited wants with limited resources
- 14. related to the ability to move from one place to another
- 15. the situation where there is not enough to satisfy everyone’s wants
Down
- 1. the value of replacement capital
- 2. the education, training,and experience that worker have gained over a period of time
- 4. the different ways in which a particular piece of land could be used
- 5. the next best alternative forgone
- 6. the process in which damaged land is restored to its natural state
- 7. the study of how governments to make choice to satisfy unlimited wants with limited resources
- 10. the output per worker hour
- 12. products which requires resources to produce them and therefore have an opportunity cost