Economics

3. a good which has an opportunity cost to produce (8,4)
6. the education training and experience that workers have gained (5,7)
14. incapable of moving from one location to another location (14,8)
15. goods and services produced by the factors of production (6)
17. the spending on capital goods (10)
18. Factor of production which covers all human effort used in producing goods and services (6)
21. the system which rules the country (10)
22. a point on the PPC is an _______________ point (9)
23. the aim of firms in the private sector (6)

1. the study of economic decisions and actions of individual consumers, producers and households (14)
2. output per worker per hour (6,12)
4. Capable of changing use (14,6)
5. PPCs are usually bowed ______________ (7)
7. _______________ cost is the best alternative foregone (11)
8. any human-made (manufactured) good used to produce other goods and services (7)
9. Good a good which requires no resources to produce (4,4)
10. agents those who undertake economic activities and make economic decisions (8,6)
11. ________________ Goods are wanted for the satisfaction they provide to their owners (8)
12. includes any gifts of nature available for production (4)
13. the study which considers economics issues and actions that affect the whole economy
16. the willingness and ability to bear uncertain risks and to make decisions in business (10)
19. payment for capital (8)
20. reward paid to labour (5)