Economics Unit 1 Crossword

Describes the usefulness & satisfication or a product.
something is scarce when it is both desirable and limited.
the use of strategies of employing existing resources & assets optimally & effieiently to allow businesses to continue functioning profitability over time.
Productivity increases when people's skills, abilities, health, & motivation increase.
measure of the amount of output produced by what is put into those outputs in a certain amount of time.
Everyone enters into a business hoping to make money.
The government decides what to make, how to make it & who gets it.
describes the increased cost for adding one more of something.
focusing on what you or other factors of production do best
giving someone only one or two tasks to focus on rather than several.
increasing the educational level of workers can lead to a higher standard of living