Danas Crossword

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Across
  1. 5. Economics is the "(Blank) science"
  2. 10. Thomas Malthus, Economist in 1798 predicted that due to limited resources and population (Blank) of human kind will experience a widespread starvation
  3. 12. (Blank) thinking evaluates whether the benefit of one more unit of something is greater than the cost
  4. 14. What did mathus miss? He did not account for (Blank) in technology and agricultural productivity
  5. 16. Improvements in (Blank) and more resources can make an economy more productive.
  6. 18. Why is the PPF downward-sloping? Must give up one good to (Blank) production
  7. 20. (Blank) goods that help produce other valuable goods i.e. buildings, factories, roads, machinery computers etc.
  8. 22. This form of economics looks at the boarder economy, including inflation, growth, employment, interest rates and productivity
  9. 24. Bring buyers and sellers together to exchange goods and services
  10. 26. Truce or False? Poing A represents the amount of cars and bicycles that will be sold (slope is going downward; Vertical axis is bicycles and horizontal axis is cars)
  11. 28. Production (Blank) frontier are combinations of outputs that a society can produce if all of its resources are bing used efficiently
  12. 30. (Blank) models are simplified versions of reality built with some assumptions
  13. 32. (Blank) factors are variables controlled for inside a model in which indemendent variables we freely change in the model equations to study their effect on the dependent variable
Down
  1. 1. Economists lab is the (Blank) around us
  2. 2. Marginal (Blank) is vacuuming now that takes more time and effort
  3. 3. (Blank) statement is a claim that can be tested to be true or false
  4. 4. Similar to "hard (Blank' in which it constructs a theory, designs an experiment to test the theory and collect data
  5. 6. This is a form of economics that is concerned with decisions of individuals, house holds and businesses. Individual units that comprise the economy.
  6. 7. The limited nature of society's resources
  7. 8. (Blank) statement is a statement of opinion; cannot be tested to be true or false
  8. 9. (Blank) goods produced for current consumption i.e. food, housing, clothing, entertainment etc.
  9. 11. (Blank) Controversies - India or China may have a comparative advantage in labor - intensive goods
  10. 13. Assumptions of this model reflect technology fixed, resources fixed and simplified (Blank-Blank)
  11. 15. Comparative (Blank - The situation in which an individual, business or country can produce at a lower opportunity cost than a competitor
  12. 17. Cost benefit (Blank) at the margin - Do the action only if the marginal benefits are
  13. 19. (Blank) factors are variables the are not accounted for in a model that are outside of our control
  14. 21. The voluntary exchange of goods and services between two or more parties
  15. 23. The highest valued alternative that must be sacrificed in order to get something else
  16. 25. More is preferred to less. This leads to (Blank) wants we will generally say "no" to having more. It doesn't mean we're greedy.
  17. 27. As long as the terms of trade are between the opportunity costs of the trading partners the trade (Blank) both Sides
  18. 29. The law of (Blank) relative cost refers to the increasing opportunity cost of production that occurs as you move along the production. As we produce more of good (A) We have to give increasingly larger amounts of good (B)
  19. 31. Intuition of (Blank) PFF inputs resources are not perfectly homogeneous