Across
- 1. As used in graphs, the point at which the vertical and horizontal axes meet.
- 4. A hypothesis that has been proven false but is still widely believed because it appears to be true.
- 5. The sacrifice of one resource or production choice for another.
- 6. to use the littlest amount of resources possible to achieve a desired end
- 8. the branch of economics that deals with what should
- 9. and effect fallacy the mistaken belief that what occurs before some event is the cause of it.
- 11. the mistaken belief that an event or problem has only one cause,as opposed to many
- 14. to use your resources to achieve a desired end
- 15. The products produced by using resources or inputs such as land, labour, or capital.
- 16. of composition the mistaken belief that what is good for the individual is good for everyone and vise versa
- 17. the study of how society makes decisions on how to use resources
- 20. Goods, such as tools or machinery, used to produce consumer goods.
- 21. A self-sustaining system in which independent transactions create flows of money, products or services.
- 23. A graphical representation of the production choices facing an economy.
- 25. maximizing benefits while minimizing cost
- 27. a person with a vested interest in an economic decision
- 30. The emphasis on one available option over another
- 31. The eventual decline in the rate of extra outputs produced that occurs when one input used in production of the output is held constant and the others are increased.
Down
- 2. A negative association between two variables where When one increases, the other decreases.
- 3. The increase in the rate of extra outputs produced when all inputs used in production are increased and no inputs are held constant.
- 7. A positive association between two variables where when one variable is increased the other variable also increases
- 10. goods or services that an economy produces to satisfy people's needs.
- 12. The cost of producing one item, expressed in terms of the numbers of another item.
- 13. The increase in the relative cost of producing more of an item , measured by the numbers of another item, that could be produced with the same resources.
- 18. A productive resource (such as land, labour, or capital) used to produce an output.
- 19. The result, effect, or outcome of an action taken or the refusal to take an action.
- 22. The usefulness, satisfaction, or benefit of something
- 24. A theoretical unit of satisfaction that a person gains from doing somthing.
- 26. The curve on a production possibilities graph representing the maximum numbers of two items that can be produced with a given amount of resources.
- 28. The value or benefit that must be given up to achieve something else.
- 29. The branch of economics that deals with what is