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Unit 1 Vocabulary

Across
Distribution
The second BEST choice to choose from
Resources stem from: Ritual, habit, or tradition
Allocation of resources are determined by prices
Producing a product at a lower opportunity cost than another
A certain amount of a product out of a given input
Down
Producing a product more than another with equal amount of resources
Resources devoted to goods most wanted by society
ALL things given up
When a product is desirable and limited
Resources are distributed by a central authority
A certain amount of input to get a given product