Ch 1: What is Economics?
Across
- 4. a type of economics that includes statements of opinions
- 7. the "economist" in Luke 12:42
- 9. worth determined by the nature of the product itself
- 10. the school of economic thought that emphasizes the free market, private property, and the limited role of government
- 12. a common-sense science of how to allocate limited resources to satisfy unlimited wants
- 15. the Father of Austrian School of Economics
- 17. economics is the study of what
- 18. the study of choice between individual units
- 22. an intangible product
- 23. satisfaction one loses when he chooses one item over another
- 24. worth determined by usefulness to the buyer
Down
- 1. usefulness
- 2. Menger said that it could be worth more than diamonds
- 3. changing a nuisance good into an economic good
- 5. the satisfaction one receives from a choice
- 6. the kind of good that has a negative economic impact
- 8. its value was debated in contrast to that of water
- 11. the idea that everything is in limited quantity
- 13. goods that have a price tag higher than zero
- 14. because every choice has some amount of regret, economic nicknamed what?
- 16. an imaginary unit of satisfaction
- 19. the study of large-scale choices
- 20. a type of service or good that has a price tag of zero
- 21. a tangible item that has a measurable lifespan