ECO1002 Business Economics

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Across
  1. 3. _____ consists of all forms of human effort(physical and mental) used to produce goods and services.
  2. 6. ______ studies how countries and individuals choose to use the limited resources.
  3. 8. Something that we desire having.
  4. 11. _____ are man made resources used to aid production.
  5. 13. For a free market, goods are distributed based on the income earned by the _________.
  6. 14. Something that is required for survival.
  7. 15. ______statements are statements that deal with facts.
Down
  1. 1. The second best choice that we sacrifice is known as the _________ cost.
  2. 2. For these goods and services to be produced, ______ are needed.
  3. 4. Price____:legal maximum on the price at which a good can be sold.
  4. 5. to satisfy their unlimited wants.
  5. 7. _____ consists of all the gifts of nature that can be used to produce goods and services.
  6. 9. government can make buyers or sellers pay a specific amount on each unit.
  7. 10. A command system gives full powers to the _______ to make all decision.
  8. 12. _____ are the skills that an entrepreneur has.