Economic

6. curve. the maximum amount of one commodity X obtainable for any given amount of another commodity Y, and vice versa
8. of the same or a similar kind or nature
9. level playing field where everyone has the same access to the same wealth
12. people who make or grow goods and provide services
13. It refers to people's decisions about sharing and using those resources
16. the process of capital formation by a firm or increase in the stock of existing capital stock
18. the point when the marginal utility of any activity is zero.
20. individual's ordering of various outcomes

1. it is representation of economy as a heterogeneous and proliferative social space.
2. the point where individuals have no particular preference for either one good or another based on their relative quantities.
3. one unit which participate in production mechanism
4. the portion of income not spent on current expenditures
5. anything that helps us produce things faster, better or cheaper
7. a rational consumer always prefers more of a good as it offers the consumer a higher level of satisfaction.
10. income that a firm receives from the sale of a good or service to its customers
11. occurs when a good's quantity demanded or supplied changes even though the price remains the same.
14. out-of-pocket costs—payments that are actually made.
15. the difference between the revenue received from the sale of an output and the costs of all inputs used, as well as any opportunity costs
17. condition or state in which economic forces are balanced
19. operation of a country’s money supply, commercial activities and industry