Across
- 6. The next best alternative you forgo
- 7. What labour land enterprise and capital is called
- 8. Something that is desired by one person
- 10. Can be either public or private.
- 11. Studies the behaviour of individual households and firms
- 13. The theory that government intervention should act counter-cyclically to the business cycle
- 16. Consumers determine what is produced.
- 17. Drives economic growth and employment
- 18. Human effort for the creation of goods and services.
- 19. Produced to be used in the production of other goods.
Down
- 1. A state where an economy is not growing or shrinking.
- 2. The improvements in the production and the communication process which increase productivity and efficiency.
- 3. The ability to produce a good at a lower opportunity cost than another good
- 4. Production possibility frontier
- 5. The ability of an economy to produce at lower cost per unit compared to another economy that produces the same good or service
- 9. Additional wants that are necessary for survival
- 12. Items used in conjunction with another.
- 14. The economic problem.
- 15. Deals with the performance structure behaviour and decision making of an economy