Unit TCI Economics review

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Across
  1. 5. Measured as output per unit of input, like bushels of corn per acre
  2. 6. Most common type of economy today
  3. 10. When someone has a lower opportunity cost for producing a good or service
  4. 12. Focusing on one task, such as a worker who only replaces zippers
  5. 13. Ensures no productive resources are left unused
  6. 14. Land, labor, and capital
  7. 15. Omit factors other than those being represented
  8. 16. Necessary because resources are limited
  9. 17. The second of the three fundamental economic questions: what, how, and for whom
  10. 18. Reason clothing manufacturing moved to nations with large, low-skilled workforces
  11. 19. Economic goal most important in a traditional economy
  12. 20. Thinking at the margin means deciding whether to add one more unit of something
Down
  1. 1. Government protects these and enforces contracts in a free enterprise system
  2. 2. Introduced a way of thinking about economic ideas
  3. 3. People trade to get something they want more
  4. 4. Statements that express opinions such as "Taxes ought to be lowered"
  5. 7. Increases the value of an item by transferring it to someone who values it more
  6. 8. Idea that each additional unit of a good provides less satisfaction
  7. 9. Type of resource that never runs out, such as ocean waves
  8. 11. Increases productivity by making workers experts at specific tasks