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Chapter 1

Emily Wheat

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Across
5.The knowledge and skills people gain from study and experiences
8.Shifting the factor of production to produce a different item requiring increasingly more resources
10.Something people must have to survive
11.Using resources in such a way to maximize the production of goods and services
12.Alternative we give up when we choose one option over another
13.Objects, cars, clothes
15.Objects made by people, like buildings and tools
17.Something that people would like to have but is not necessary for survival
21.Actions that people do for others such as teaching
22.Human-made resource used to produce other goods and services
23.People who put together land, labor, and capital, to create new businesses
24.Used to show alternate ways of using an economy's resource
Down
1.Most attractive alternative given up when a decision is made
2.The line graph that shows the maximum possible production
3.Resources used to make goods
4.Military goods and consumer goods
6.Limited amounts of resources to meet unlimited desires
7.Economy is not using all of it's resources efficiently
9.Decision to make one or more or one less unit of something, such as time or workers
14.Natural resources like coal, water, and forests
16.Occurs when a good or service is unavailable
18.Any alternative given up when a decision is made
19.The study of how people make choices to satisfy their needs and wants
20.The effort that a person devotes to a task, for which the person is paid

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