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Name: ____________________________________ Caine Period: _____ Date: 12/4/2008 Use your study guide and the text to complete this crossword Across 5. things we would like to have 6. tangible products 8. the U.S. has this kind of economy 11. __________ markets are where productive resources are bought and sold 12. __________ resources are “gifts from nature” 14. study of how we make decisions in a world where resources are limited 16. __________ cost is the next best use of your time or money 17. economic __________ are simplified representations of the real world 20. things that are required for survival 21. the struggle between buyers and sellers to get the best product at the lowest price Down 1. this occurs when we do not have enough resources to produce everything we would like to have 2. alternative you face when you decide to do one thing rather than another 3. __________ markets are where producers offer goods and services for sale 4. nation’s human resources 7. a system in which private citizens own most or all of the means of production 8. __________ cost is the cost of making one more unit of additional output 9. in a free __________ system, competition is allowed to flourish 10. cost-benefit __________ requires you to compare the marginal costs and marginal benefits of a decision 13. work that is performed for someone else 15. amount of money left over after all costs of production have been paid 18. __________ of labor is when a job is broken down into separate, smaller tasks 19. individuals who start new businesses 21. tools, machinery and buildings used to make other products