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1.Monetary or non-monetary gains received because of an action taken or a decision made
3.The market value of all final goods and services produced in a country in a calendar year
7.The father of modern economics and the author of Wealth of Nations
8.A conclusion reached after considering alternatives and their results
10.The condition of not being able to have all the goods and services one wants
12.Legal protection for the boundaries and possession of property
14.An economy in which customs and habits from the past are used to resolve economic issues of production and distribution
15.Economic system that has high government control
19.Legal protection for the inventors of ideas, products, and processes
20.A penalty that discourages a behavior
21.The condition that arises from unlimited wants and limited resources
2.Improvements in a firm's ability to produce to improved processes, methods, and machines
4.The amount of output produced per unit of input
5.An economic system that exhibits characteristics of more than one type of economic system
6.Desires that can be satisfied by consuming or using a good or service
9.An amount that must be paid or spent to buy or obtain something
11.An asset used in production that is made by humans, but is non-human
13.People who take calculated risk in order to make a monetary or non-monetary gain
16.goods or tools that are used to produce other goods
17.Total Revenue-Total Cost
18.Price x Quantity

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