Economic

3. people who make or grow goods and provide services
7. of the same or a similar kind or nature
9. operation of a country’s money supply, commercial activities and industry
10. the process of capital formation by a firm or increase in the stock of existing capital stock
13. it is representation of economy as a heterogeneous and proliferative social space.
14. level playing field where everyone has the same access to the same wealth
15. the difference between the revenue received from the sale of an output and the costs of all inputs used, as well as any opportunity costs
16. the point when the marginal utility of any activity is zero.
18. a rational consumer always prefers more of a good as it offers the consumer a higher level of satisfaction.
19. out-of-pocket costs—payments that are actually made.

1. the point where individuals have no particular preference for either one good or another based on their relative quantities.
2. one unit which participate in production mechanism
4. income that a firm receives from the sale of a good or service to its customers
5. occurs when a good's quantity demanded or supplied changes even though the price remains the same.
6. individual's ordering of various outcomes
8. It refers to people's decisions about sharing and using those resources
11. condition or state in which economic forces are balanced
12. curve. the maximum amount of one commodity X obtainable for any given amount of another commodity Y, and vice versa
16. the portion of income not spent on current expenditures
17. anything that helps us produce things faster, better or cheaper