Introduction to Economics

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Across
  1. 2. An economic system where individuals and sellers make economic decisions using a price system
  2. 6. people who contribute their energy mentally and physically to earn wages or salaries.
  3. 8. An economic system where all the economic decisions are made by the government or a central authority
  4. 9. a study of how people use their limited resources to try to fulfil unlimited wants and involves alternatives or choices
Down
  1. 1. The study of individual parts of the economy
  2. 2. stock of goods created by society to help them in the production of goods and services.
  3. 3. Includes all natural resources which are derived from the earth and land itself
  4. 4. The study of the economic system as a whole
  5. 5. wants always exceed limited resources to satisfy them
  6. 7. cost, second best alternative that has to be forgone for another choice which gives more satisfaction.
  7. 9. person who has the ability of planning, organizing, directing and controlling.