Economics concepts

3. He termed a certain kind of management as “Oeconomicus”
5. The condition wherein most things that people want are available only in limited supply
7. He introduced the economic concept of efficiency
8. In French, this means “free economics”
11. This encompassed the activities of money-making as well as some aspects of production
14. These are finished goods
15. Economic goods in the form of material goods
16. This dealt with the production and consumption of goods
18. He introduced the concept of specialization
19. Refers to a person’s desires or preferences
20. His contribution to economics was his theory on population

1. These are goods that give prestige to the owner
2. A group of economists who believed that the wealth of a nation was derived from the value of land agriculture or land development
4. He divided the concerns of economics into two different fields
6. It is the reason for justification of society
9. Ratio of outputs to inputs
10. Father of International Trade
12. The prosperity of a nation depends upon its supply of capital
13. Economic goods in the form of services
17. Father of Economics