1
							2							3								4
				5
	6	7
													8			9											10
											11
										12
13
				14																				15
																				16
																													17
													18
											19
				20
21
								22
		23
									24
25

Across 2. the highest valued option given up when a choice is made 6. How societies answer the 3 economic questions 12. the use of resources so as to maximize the production of goods and services 14. abstraction of an economic reality expressed in various ways 20. an economic system characterized by private or corporate 21. Resources that cannot be replenished 22. An economic system in which the meansof production and distribution are privatelyor corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market. 23. an economy in which decisions regarding investment, production and distribution are based on supply and demand 24. deals with how people use scarce resources to produce and distribute goods and services 25. The rate at which goods or services are produced especially output per unit of labor.

Down 1. The main reason FIRMS exist; the reward for RISK taken by ENTERPRISE 3. absolute necessary for life 4. Economy dominated by methods and techniques that may be considered old-fashioned or out of date. 5. An economic principle holding that the greatest benefit to a society is brought about by individuals acting freely in a competitive marketplace 7. Manufactured goods used to make and market other goods and services 8. anything above a need 9. doctrine opposing governmental interference in economic affairs 10. land, labor, capital, entrepreneurship 11. we have unlimited wants, our resources are limited 13. a contest between rivals 15. the process of organizing, managing, and assuming the risks of a business ownership 16. Analyzes the behavior of the economy as a whole 17. Analyzes the behavior of firms and households 18. An economy that is planned and controlled by a central administration 19. an economic system in which both private-sector FIRMS and firms owned by GOVERNMENT take part in economic activity.