Across
- 3. a change in this will cause a movement along the demand curve.
- 7. an axis used to plot the demand curve
- 8. a good which is scarce
- 10. a point outside the PPC
- 11. a non price factor affecting demand
- 13. goods that go hand in hand/ consumed together
- 14. tea and coffee are...........for each other
- 16. the concept of specialisation was brought out him/ father of modern economics
- 18. economic agents are able to consider the outcome of their choices and recognise the net benefits of each one
Down
- 1. value of the next best alternative foregone when making a choice
- 2. a point inside the PPC
- 4. economy which is controlled by the state
- 5. a diagram that shows the maximum combination of goods that can be produced with the full employment of resources and technology within an economy
- 6. unlimited want & limited resources leads to this
- 9. these goods have no opportunity cost
- 12. all other factors are being held constant
- 15. a disadvantage of specialisation
- 17. a consumer's desire to purchase goods and services and willingness to pay a specific price for them.