Across
- 1. Adam Smith is widely regarded as the father of __________.
- 4. Economics is the study of how societies use __________ resources.
- 7. Adam Smith’s famous book is titled ‘An Inquiry into the Nature and Causes of the Wealth of __________’.
- 8. Initial utility is always __________.
- 9. The law of diminishing marginal utility states that as consumption increases, utility __________.
Down
- 2. __________ focuses on individual decision-making units like households and firms.
- 3. Utility is measured in __________.
- 5. Macroeconomics studies the economy as a __________.
- 6. Utility refers to the __________-satisfying capacity of a commodity.