Economics Crossword

4. consumer He is one who wants to get maximum satisfaction out of his given income
7. It is the study of man in the ordinary business of life
9. A situation where there is not enough resources
11. The desire to buy a commodity backed with sufficient purchasing power
12. effect Effect of change in price of a related on the demand for a commodity
14. One who gathers capital and organizes factors of production
16. economics It studies the problem of efficient use of resources
17. It is the transformation of input into output
19. The standard unit of measurement used by A. Marshall to measure utility

1. cost It refers to the value of a factor in its next best alternative use
2. problems It is a scientific inquiry into a problem using statistical tools
3. curve It shows different combinations of 2 goods offering the same levels of satisfaction
5. equilibrium It refers to a situation wherein a consumer gets maximum satisfaction
6. behavior It refers to the way in which a consumer spends their income
8. problem It is the problem related to the allocation of resources to different uses
10. set It refers to the attainable combinations of a set of 2 goods
11. curve It is a graphic representation of a demand schedule
13. goods These are goods for which decreases as income of the buyers rise
15. The satisfaction derived from the consumption of a commodity
18. goods These are goods for which increases as income of the buyers rise