Fundamental Economics Problems

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Across
  1. 3. to make choice
  2. 5. all factors of production are variable
  3. 9. individual to survive and function optimally.
  4. 11. text that are subjective
  5. 12. that this being equal
  6. 15. used to produce goods & services.
  7. 16. The study of how economies function, focusing on the behavior of individuals and firms.
  8. 17. the situation where there is not enough of a resource to satisfy all wants.
  9. 20. The study of individual markets.
Down
  1. 1. One factor of production is fixed.
  2. 2. The study of whole economy or group of economies.
  3. 4. Economists take change into account in their analysis of situations.
  4. 6. choice of the next best term
  5. 7. desires that individuals seek to attain or possess.
  6. 8. economic term describes the limited availability of resources
  7. 10. factors of products
  8. 13. positive statement can be…
  9. 14. what is fundamental economics problem
  10. 18. The process of deciding how to allocate scarce resources to satisfy different wants and needs.
  11. 19. use “what for whom how to produce