EPF Ch. 1-2 Crossword

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Across
  1. 1. the goal of making the most of available resources and technology
  2. 4. variable change in opposite direction
  3. 10. consumer __________ entitles buyers to choose to purchase at various prices
  4. 13. extra investment needed for an additional unit of change
  5. 14. _________-economics that studies decision making of individuals/businesses
  6. 16. simple way to examine relationships between variables
  7. 17. best option not selected when a decision is made
  8. 21. _________-economics, studies decision making on large scale
  9. 23. idea that economy functions best through self-interest, not government control
  10. 26. marginal _________ is extra gain/reward from doing more
  11. 27. ability to increase production by adding resources or improved technology
  12. 28. permanent condition where resources are fewer than wants/needs
  13. 30. all options given up when making a decision
  14. 31. both variables increase or decrease
  15. 32. how much more or less to do
  16. 33. _____ __ ____________opportunity costs shows cost increases as production of other goods increases
  17. 34. American mixed economy
Down
  1. 2. economic system without government restrictions
  2. 3. analysis based on values/opinions
  3. 5. government controls industries and resources
  4. 6. failure to use all resources efficiently
  5. 7. resources are owned by a central authority; prioritizes efficiency and equity
  6. 8. skills/training that make an individual valuable in the job market
  7. 9. command system where workers own resources as a group
  8. 11. place/method for buyers and sellers to exchange goods/services
  9. 12. graph of maximum output given present resources and technology
  10. 15. __________of production include land, land,capital resources & entrepreneurship
  11. 18. knowledge used in the production of goods and services
  12. 19. benefit outcome of a cost benefit analysis
  13. 20. economic analysis based on facts that can be tested
  14. 22. rights that allow individuals/businesses to own resources
  15. 24. inputs that are used to produce goods and services
  16. 25. comparing additional reward and investment of an action as part of decision-making
  17. 29. need-based rationing is used to provide for the community