About Economics

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Across
  1. 2. ________ statements involves value judgements
  2. 7. a factor of production whose return is called profit
  3. 10. return of land
  4. 11. goods are said to be _________ if they can replace each other to satisfy the same want
  5. 12. _________ goods: Goods that see an increase in demand when income rises
  6. 13. a branch of economics studying individuals and firms in making decisions
Down
  1. 1. return of capital
  2. 3. _________ goods: Goods that see an decrease in demand when income rises
  3. 4. price ________: a price control which be set below the market price
  4. 5. appears when quantity demanded is greater than the quantity supplied
  5. 6. highest valued option forgone
  6. 8. where quantity demanded equal quantity supplied
  7. 9. _______ statements are refutable by facts