Nature of Economics

12345678910111213141516171819202122232425262728293031323334353637
Across
  1. 1. A field of study analyzing human behavior, including economics
  2. 6. Industries providing services like retail or healthcare
  3. 9. Categories of primary, secondary, and tertiary activities
  4. 12. Man-made resources like machinery used in production
  5. 14. The study of how scarce resources meet infinite wants
  6. 15. A good that is scarce and has an opportunity cost
  7. 17. Trading goods, services, or money between parties
  8. 23. Subjective assessment influenced by personal beliefs
  9. 24. Systems where central planning allocates resources
  10. 25. Systems where buyers and sellers interact
  11. 26. Systems where market forces allocate resources
  12. 28. Economist known for free market advocacy
  13. 30. Describes unlimited human wants
  14. 31. A medium of exchange, store of value, and unit of account
  15. 33. Economist famous for the invisible hand concept
  16. 35. Simplified representations used to explain economic phenomena
  17. 36. Human effort, physical or mental, in production
  18. 37. Industries like farming and fishing that extract resources
Down
  1. 2. Focusing on producing a limited range of goods
  2. 3. Process by which supply and demand allocate resources
  3. 4. Extra satisfaction from consuming one more unit
  4. 5. Industries involved in manufacturing and construction
  5. 7. Objective assertion that can be tested or proven
  6. 8. Systems combining markets and government intervention
  7. 10. Output per unit of input, like per worker
  8. 11. A resource that is exhaustible and cannot be replaced
  9. 13. Scarcity causing choices to allocate limited resources
  10. 16. Value of the next best alternative foregone
  11. 18. A resource that can replenish naturally over time
  12. 19. Worth of a good or service based on utility and scarcity
  13. 20. Natural resources like soil, water, and minerals
  14. 21. Combining resources and taking risks in production
  15. 22. Value-based claim on what ought to be
  16. 27. Describes a resource that is limited and exhaustible
  17. 29. Breaking production into tasks for efficiency
  18. 32. Economist who critiqued capitalism and proposed socialism
  19. 34. Latin for “all other things being equal” in economics