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FUNDAMENTALS of ECONOMICS


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