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