Across
- 1. - The classic trade-off is between “guns and ...”
- 4. an increase in the overall level of prices in the economy
- 8. whatever must be given up to obtain some item(2)
- 9. the property of society getting the most it can from its scarce resources
- 10. - “one who manages a household.”
- 11. - the limited nature of society’s resources
- 12. the property of distributing economic prosperity uniformly among the members of society
Down
- 2. the impact of one person’s actions on the wellbeing of a bystander
- 3. something that induces a person to act
- 5. small incremental adjustments to a plan of action(2)
- 6. the quantity of goods and services produced from each unit of labor input
- 7. the study of how society manages its scarce resources