Across
- 2. Physical human effort exerted in production
- 6. It involves the use of scarce resources to satisfy unlimited wants
- 10. Science The study of society and how people behave
- 12. Man-made resources used in the production of goods and services
- 14. A situation where people who are willing and able to work are seeking work bit cannot find jobs
- 16. It is concerned with the behaviour of individual entities
- 17. Economy An economy where decisions are based on traditions and practices upheld over the years
- 18. Economics The application of economic theory
- 19. Economics Deals with what is-things that are actually happening such as the current inflation rate
Down
- 1. Economics Refers to what should be-all that which embodies the ideal such as the ideal rate of population growth
- 3. Cost The value of foregone alternative
- 4. Domestic Product The market value of final products produced within the country
- 5. Economy The most democratic form of economic system is where the workings of demand and supply determine the decisions on what goods and services to produce
- 7. Insufficient resources
- 8. Resources Used to produce goods and services
- 9. It is concerned with the overall performance of the entire economy
- 11. Soil and natural resources found in nature
- 13. Line Minimum income level used as an official standard for determining the proportion of a population living in poverty
- 15. Economy An authoritative system wherein decision-making is centralized in the government or a planning committee