Classical Economics (18th Century)

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Across
  1. 2. Argues that there can’t be overproduction of goods in an economy.
  2. 3. ___ theory suggested that value should be determined by the amount of labour put into producing a product.
  3. 4. One of the two invisible hand factors mentioned (producer point of view).
  4. 7. __ metaphor for the unseen forces that move the free market economy, based on self interest.
  5. 9. French term which means “Let (people) do (as they choose).
  6. 10. Dominant school of thought for economics in the 18th century.
  7. 11. One of the two invisible hand factors mentioned (consumer point of view).
  8. 12. Economic system coined by Adam Smith.
  9. 13. South Korean economist.
  10. 14. Method of production that focuses on producing a small range of products to improve efficiency.
Down
  1. 1. French classical and liberal Economist.
  2. 5. Adam Smith's book.
  3. 6. Term in economics that refers to the total satisfaction received from consuming a good or service.
  4. 8. Scottish economist, philosopher, pioneer of political economy.
  5. 10. Economic system based on wealth creation, controlled by private owners.