Review of Ch.6 and some key terms from Chs 1-5

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Across
  1. 2. a statement that is based on facts or actual evidence (two words)
  2. 5. goods that are not scarce and have zero opportunity cost (two words)
  3. 6. where it is possible to stop someone from consuming a good or service
  4. 7. an economic system where resources are state owned and allocated by a central body (two words)
  5. 10. a good that is thought to be undesirable for consumers and is overprovided by the market because of information failure (two words)
  6. 14. a situation where consumers do not have full or complete information when making decisions (two words)
  7. 15. goods that are consumed by one person and not available to anyone else (two words)
  8. 16. where a manufacturing process is split into a sequence of individual tasks (three words)
  9. 18. where consumption by one person does not reduce consumption by someone else (two words)
  10. 19. someone who does not pay to use a public good (two words)
  11. 20. good that has some but not the full characteristics of a public good (three words)
Down
  1. 1. time period when a firm can change at least one but not all factor inputs (two words)
  2. 3. a situation in which wants and needs are greater than the resources available
  3. 4. a good that is thought to be desirable for consumers but which is underprovided by the market because of information failure (two words)
  4. 8. a factor of production, involves organising production and taking risks
  5. 9. a factor of production; a physical resource made by humans that aids the production of goods and services
  6. 11. where consumption by one person of a good or service reduces the availability of the good or service for others
  7. 12. good which is both non-excludable and non-rival (two words)
  8. 13. time period when all factors of production are variable but with a constant, such as the state of technology (two words)
  9. 17. a Latin phrase meaning 'other things equal' or 'other things are unchanged'; used by economists to model the effects of one change at a time (two words)