Economics Module One Crossword

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Across
  1. 3. Of Trade / Measures only goods (not services0 that a nation exports and imports.
  2. 6. / Discourage imports by making them more expensive.
  3. 8. Economics / An analysis limited to statements that are verifiable.
  4. 9. Growth / The ability of an economy to produce greater levels of output, represented by an outward shift of its production possibilities.
  5. 10. / The branch of economics that studies the decisions making by a single individual, household, firm, industry, or level of government.
  6. 12. / The basic categories of inputs used to produce goods and services.
  7. 13. Rate / The price of one nations currency in terms of another nations currency.
  8. 14. / The study of how society chooses to allocate its scarce resources to the production of goods and services in order to satisfy unlimited wants.
  9. 16. Possibilities Curve / A curve that shows the maximum combinations of two outputs an economy can produce in a given period of time with its available resources and technology.
  10. 17. Of Currency / Occurs when one currency becomes worth more units of another currency.
  11. 19. / Is a governments use of embargoes, tariffs, quotas, and other methods to impose barriers intended to both reduce imports and protect particular domestic industries.
  12. 22. Analysis / An examination of the effects of additions to or subtractions from a current situation.
Down
  1. 1. / The condition in which human wants are forever greater than the available supply of time, goods, and resources.
  2. 2. Of Currency / Occurs when one currency becomes worth more units of another currency.
  3. 4. Cost / The best alternative sacrificed for a chosen alternative.
  4. 5. / Limit the quantity of imports or exports of certain goods.
  5. 7. Trade / Benefits a nation as a whole, but individuals may lose jobs and incomes because of the competition from foreign goods and services.
  6. 10. / The branch of economics that studies decision making for the economy as a whole.
  7. 11. / Prohibit the import or export of particular goods.
  8. 15. Paribus / A Latin phrase that means while certain variables change, “all other things remain unchanged”.
  9. 18. / The body of knowledge applied to how goods are produced.
  10. 20. / The accumulation of capital, such as factories, machines, and inventories, that is used to produce goods and services.
  11. 21. / The mental and physical capacity of workers to produce goods and services.