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FUNDAMENTALS of ECONOMICS


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Across
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Where people are free to decide what, how and for whom to produce goods or services
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Work that does not produce an actual product but meets someones need and is sold in the market
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Anything found in nature to be used to produce goods and services
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Control of an industry by a single supplier
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Ability to produce goods/service at a low opportunity cost compared to other producers
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Products made to be sold
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Efforts of people who produce service or made goods
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Makes buying and selling easier
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Production with little waste
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Amount left after all exspenses have been paid
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Offering price, quality or advantages to two or more suppliers to gain the business of a buyer
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Two or more producers relying on each other
Down
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Encouragement for new ideas or products
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A conclusion or opinion based on facts
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Equipment used for processing
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Production of a product/service using less resources than others require
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Rare or short supply
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Concentration of production of a few goods/services
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Amount of goods and/or services a worker can produce in a given time
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Human creativity that produces new products or services
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The result
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Decrease in value
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A carefully devised plan
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The alternative that one gives up when making choices