Module 1: The Study of Economics

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Across
  1. 1. ____economics: The study of an overall economy and its up and down trends
  2. 4. Anything that can be used to produce something else
  3. 6. A system for coordinating a society's productive and consumptive activities
  4. 9. ____ Analysis: The study of the costs and benefits of doing a little bit more of an activity versus a little bit less
  5. 11. The study of scarcity and choice
  6. 13. Rights Ownership of and the ability to freely trade goods and services with other entities
  7. 14. ____ Economics: Makes prescriptions about the way an economy should work
  8. 16. The effort of workers
  9. 17. ____ Economics: Economic Analysis that describes the way an economy actually works
  10. 18. All resources that come from nature
  11. 19. A person who utilizes the other factors of production to produce final goods and services
Down
  1. 2. Economic ____: Economic measures that summarize data across many different markets
  2. 3. ____ Economy: An economy in which decisions are made by the government, and there are few property rights
  3. 5. Manufactured goods used to make other goods and services
  4. 7. ____economics: The study of how individuals, households, and firms make decisions
  5. 8. ____ Economy: An economy in which decisions are made by producers and consumers, with little government involvement
  6. 10. ____ Cost: The cost of the next best alternative
  7. 12. A resource that is limited in availability to meet the needs of its demand
  8. 15. Rewards or punishments that motivate particular choices