What is Economics?

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Across
  1. 3. of production The four categories of resources used to produce goods and services.
  2. 7. Things used to make goods or services.
  3. 14. cost The cost of the next best use of time or money when choosing to do one thing rather than another.
  4. 15. A basic requirement for survival, such as food, clothing, or shelter.
  5. 16. analysis An economic decision-making model that compares total benefits with total costs.
  6. 17. The situation of not having enough resources to satisfy all wants and needs.
Down
  1. 1. resources Land and materials from nature that can be used to make goods or services.
  2. 2. Risk-taking individuals who start new businesses, introduce new products, or improve methods of making or doing something.
  3. 4. Workers and their abilities.
  4. 5. The alternative you face when you choose one good or service over another.
  5. 6. To support or encourage.
  6. 8. The study of how individuals and nations make choices about using scarce resources to fulfill needs and wants.
  7. 9. Factories, tools, and equipment used to manufacture goods.
  8. 10. Work that is done for people.
  9. 11. An alternative or choice.
  10. 12. Things people can touch or hold.
  11. 13. A desire for a good or service.