Across
- 3. supplies that enable the people to get what they want
- 9. economics that uses scientific approach to explain how the economy works
- 12. French economists who favored natural economy as opposed to the idea of mercantilism
- 13. deals with the behavior of individuals in the market
- 15. let things alone
- 16. the value of the next best alternative not chosen
- 18. economic system that which aimed to accumulate wealth.
- 19. Production Possibilities Frontier
Down
- 1. giving up other opportunities that we value
- 2. economics that deals with value judgments or what should be in the economy
- 4. Greek word that means "management of the household"
- 5. a situation in which the amount of resources is sufficient or unavailable to satisfy people's desires
- 6. Adam Smith's book is entitled The ____________________
- 7. the production of goods by people working at the jobs they do best
- 8. study of how individuals make choices that involve the use of scarce resources
- 10. a situation in which the quantity supply is less than the quantity demanded
- 11. deals with the economy as a whole
- 14. the father of economics.
- 17. taxes that governments apply only to imported goods