Applied economics

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Across
  1. 3. A market the structure where many firms sell similar but differentiated products
  2. 4. It is the physical and human effort exerted in production
  3. 7. When quantity demanded is greater than quantity supplied
  4. 8. An economic system where supply and demand determine prices
  5. 10. An economic system based on customs and traditions
  6. 11. The desire and ability of consumers to purchase goods
  7. 12. The goods which are identical in quantity, shape, color and packaging
  8. 13. It refers to the amount of product consumers are willing to buy at different prices
  9. 14. The final goods or services produced from the use of inputs
  10. 15. The essential of life, such as food and shelter
  11. 17. A government-imposed limit on how high a price can go
  12. 21. It refers the value of the best forgone alternative
  13. 22. course that do not change with the level of production
  14. 23. Resources that used in production process to create goods or services
  15. 28. The point where supply equals demand
  16. 30. When quantity supplied is greater than quantity demanded
  17. 34. It is studies the decision and choices of the individual units and how this decisions affect the prices of goods in the market
  18. 38. People who organize resources to produce goods
  19. 39. A market is structure dominated by a few large firms
  20. 40. A financial support from the government to lower production cost
Down
  1. 1. Things Dad are often are sold or used together
  2. 2. A market structure with many buyers and sellers offering identical products
  3. 5. An economic system controlled by the government
  4. 6. Desires for non-essential items
  5. 9. It is the social system through which the sellers and purchasers of the commodity or service
  6. 16. A measure of how the demand changes the price
  7. 18. The process materials, equipment, and buildings used in production
  8. 19. The soil and natural resources that are found in nature and are not manmade
  9. 20. An economic system combining private and government control
  10. 24. A government-imposed minimum price for a good or service
  11. 25. It is a division of economics that is concerned with the overall performance of the entire economy
  12. 26. firms that accept the prevailing market price
  13. 27. The limited nature of resources which underlines the basic economic problem
  14. 29. The point where quantity demanded equals quantity supply
  15. 31. It is the man-made resources used in production of goods and services which include machineries and equipment
  16. 32. It is the exchanges of goods and services between buyer and seller
  17. 33. As price decreases, quantity demanded increases
  18. 35. A market structure with only one seller
  19. 36. The famous workers received for their labor
  20. 37. The amount of goods available for sale