Economics Chapter 1 & 2

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Across
  1. 4. Giving up a resource or product choice price for another.
  2. 6. Type of relationship where one goes up and the other goes down.
  3. 7. The study of how society uses scarce resources.
  4. 8. Goods used to produce other goods.
  5. 9. Type of goods that satisy human needs.
  6. 12. Where vertical and horizontal axes meet.
  7. 13. Favouring one option over another.
  8. 14. Resource used to produce something.
  9. 16. Using the minimum resources to achieve a result.
  10. 18. A theoretical unit of satisfaction.
Down
  1. 1. What is produced from using resources.
  2. 2. Type of method that includes observation and verification.
  3. 3. A person with a vested interest in an economic decision.
  4. 5. To use resources efficiently in production.
  5. 10. The cost of the next best alternative.
  6. 11. Describes returns that get smaller as inputs increase.
  7. 15. Satisfaction or benefit gained from a choice.
  8. 17. A false but widely accepted belief.