Across
- 4. simplified representation of reality
- 7. this should improve standard of living
- 8. mysteries that can be solved through economic analysis
- 9. these influence people's actions
- 13. arrangement that brings buyers and sellers together
- 14. anything used to produce a good or service
- 15. what you gain by adding one more unit
- 16. giving something up to get something else
- 17. Smith's metaphor
Down
- 1. hard to conduct in economics
- 2. type of economics that explains or measures
- 3. resources to satisfy our needs are ______.
- 5. type of economics that makes judgments
- 6. what you give up to add one more unit of something
- 10. this model assumes people do things for logical reasons
- 11. there is no such thing as ___ ____. Everything has a cost
- 12. this forces tradeoffs