EcoKNOWmics!

5. Country with the largest population in the world as of July 2020.
6. ___ can make everyone better off.
7. In a ____ economic system, there is a dominant, centralized authority - usually the government - that controls a significant portion of the economic structure.
8. Considered as the “Mother Teresa of Economics” for his works on developmental economics.
11. They usually gain in an inflationary situation because they get to pay off their loans and interest in less-valued money.
12. Country that opted out of the Regional Comprehensive Economic Partnership (RCEP) in November 2019.
14. ___ utility refers to the additional utility derived from consuming an additional unit of the good.
15. ___ is the result of people having "Unlimited Wants and Needs," or always wanting something new, and having "Limited Resources".

1. Indicating substantial emigration or migration of individuals; also refers to the situation where a country loses its best workers.
2. ___ unemployment exists in any economy due to people being in the process of moving from one job to another; also known as search unemployment.
3. Demand and supply intersect with one another to establish market ___.
4. He emphasized that the price and output of a good are determined by both supply and demand.
9. A measure of how much buyers and sellers respond to changes in market conditions.
10. The idea that countries can skip straight to more efficient and cost-effective technologies that weren't available in the past.
13. A ____ economic system is based on goods, services, and work, all of which follow certain established trends which rely a lot on people, and with very little division of labor or specialization.