Across
- 4. Desires/ aspirations that inidviduals seek to attain.
- 7. A ... statement in economics is one that is subjective.
- 8. Allows economists to simplify a situation by assuming that apart from a single change of circumstances, everything else is unchanged.
- 11. The study of whole economy or group of economies.
- 12. Used to produce goods & services.
- 13. where not only are all factors of production variable but all other key inputs are variable.
- 14. The cost of choice in terms of the next best alternative..
Down
- 1. The study of individual markets.
- 2. A natural resource of factor of production.
- 3. is a form of human capital.
- 5. Resources limited and wants unlimited causes?
- 6. A type of physical resource including anything that can be regarded as made by humans to aid production.
- 9. Possible for all factors of production or resources to change.
- 10. The human resources available in any economy.
- 15. Positive statements using what words?