Applied Economics

1234567891011121314151617181920212223242526272829303132333435
Across
  1. 1. schedule – A table that lists the quantity of a good consumers are willing to buy at different prices.
  2. 3. – The willingness and ability of producers to offer goods for sale at different prices.
  3. 7. – Natural resources, including soil, minerals, and forests, used for economic activities.
  4. 8. – The branch of economics that focuses on individual and business decisions.
  5. 9. – The study of how people allocate limited resources to satisfy their unlimited wants.
  6. 12. resources – The limited factors used to produce goods and services to meet human wants.
  7. 15. – Non-essential goods and services that people desire but do not need for survival.
  8. 16. resources – Raw materials such as land, water, and minerals used for production.
  9. 17. scarcity – When the availability of a good is low compared to the demand for it.
  10. 18. – A situation where demand exceeds supply, often leading to higher prices.
  11. 20. – Essential items required for survival, such as food, water, and shelter.
  12. 21. goods – Products that can replace each other, like tea and coffee.
  13. 23. – The consumer's willingness and ability to purchase goods at various prices.
  14. 27. – A place or system where buyers and sellers interact to exchange goods and services.
  15. 29. scarcity – A situation where resources are naturally limited and cannot be increased.
  16. 30. – Resources such as labor, capital, and raw materials used in production.
  17. 31. economy – An economic system where the government makes all major economic decisions.
  18. 33. cost – The value of the next best alternative forgone when making a choice.
  19. 34. function – A mathematical equation that shows the relationship between quantity demanded and factors affecting it.
Down
  1. 2. Marshall – An economist who defined economics as the study of mankind in the ordinary business of life.
  2. 4. – The amount of money required to purchase a good or service.
  3. 5. – The human effort, both physical and mental, used in production.
  4. 6. – The fundamental economic problem of having seemingly unlimited human wants in a world of limited resources.
  5. 10. in taste and preference – A factor that influences consumer demand based on trends and habits.
  6. 11. – The study of the overall economic performance of a nation or global economy.
  7. 13. – The final goods or services produced using various inputs.
  8. 14. goods – Products that are often used together, like peanut butter and jelly.
  9. 19. resource – The workforce, including labor and entrepreneurship, involved in production.
  10. 22. – The efficiency of production, measured as output per unit of input.
  11. 24. you like me to refine or simplify any of these clues further?
  12. 25. material – Unprocessed natural materials used to manufacture products.
  13. 26. resource – Tools, machinery, and buildings used in the production of goods and services.
  14. 28. economy – An economic system where decisions are based on customs and heritage.
  15. 32. economy – An economic system driven by consumer choices and competition.
  16. 35. – The state in which supply and demand are balanced in a market.