Crossword Puzzle for Economics 101 Module 1 & Chapters 1,2,21

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Across
  1. 3. The value of a nation's goods imports from its goods exports
  2. 5. (Of currency) A rise in the price of one currency relative to another
  3. 6. Branch of economics that studies decision making by a single individual, family, industry, or level of government
  4. 15. A simplified description of reality used to understand and predict the relationship between variables
  5. 18. Zero association btw two variables; when one changes, the other remains unchanged
  6. 21. Best alternative sacrificed for a chosen alternative
  7. 22. Condition in which human wants are forever greater than available supply of time, goods, and resources
  8. 23. Accumulation of capital, such as factories, machines and inventories, that is used to produce goods and services
  9. 24. Study of how society chooses to allocate its scare resources to the production of goods and services in order to satisfy unlimited wants
  10. 26. The number of units of one nation's currency that equals one unit of another nation's currency
  11. 27. Human-made goods that are used to produce other goods and services
  12. 28. (Of currency)A fall in the price of one currency relative to another
  13. 29. Flow of goods btw countries without restrictions or special taxes
Down
  1. 1. A tax on an import
  2. 2. A limit on the quantity of a good that may be imported in a given time period
  3. 4. Ability of an economy to produce greater levels of output, rep by an outward shift in production possibilities curve
  4. 6. An examination of the effects of additions or subtractions from a current situation
  5. 7. A law that bars trade with another country
  6. 8. Analysis limited to statements that are verifiable
  7. 9. Curve that shows the maximum combinations of two outputs an economy can produce in a period of time with resources and technology
  8. 10. Analysis based on value judgement
  9. 11. A bookkeeping record of all the international transactions btw a country and other countries during a given period of time
  10. 12. Ability of a country to produce a good at a lower opportunity cost than another country
  11. 13. Branch of economics that studies decision making as a whole
  12. 14. Positive association btw two variables; when one increases, the other increases; when one decreases, the other decreases
  13. 16. Latin phrase that means while certain variables change, "all other things remain the same"
  14. 17. Government's use of embargoes, tariffs, taxes, and quotas and other restrictions to protect domestic producers from foreign competition
  15. 19. Ability of a country to produce a good using fewer than another country
  16. 20. Negative association btw two variables; when one increases, the other decreases and vice versa
  17. 25. Basic Categories of inputs used to produce goods and services; factors of production; three categories: land, labor, capital