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Economics Quest 1

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Across
3
The invisible hand
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Markets where producers sell their goods and services to consumers
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A risk-taker in search for profits who does something new with existing resources
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Takes place when work is arranged so that individual workers do fewer tasks than before
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We rely on others, and others rely on us, to provide the goods and services that we consume
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The study of how people try to satisfy what appears to be seemingly unlimited and competing wants through the careful use of relatively scarce sources
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What to produce? How to produce? For whom to produce?
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A contradiction between necessities and value
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A good intended for final use by individuals
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The sum of all the skills, abilities, health, and motivation of people
Down
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A location or other mechanism that allows buyers and sellers to exchange a certain economic product
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The markets where productive resources are bought and sold
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The dollar value of all final good and services, and structures produced within a country's boarders within a 12 month period
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The cost of the best alternative use of money, time or resources when one choice is made rather than another
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The money used to buy the tools and equipment used in production
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Takes place when factors of production perform tasks that they can do relatively more efficiently than others
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A contradiction between necessities and value