Microeconomics Crossword: Key Concepts

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Across
  1. 2. An economic system based on mutual exchange and social obligation
  2. 4. A curve showing the maximum output combinations of two goods
  3. 5. A measure of a country’s total output of goods and services
  4. 6. An economic model balancing human needs with environmental limits
  5. 7. The basic economic problem of unlimited wants but limited resources
  6. 10. The branch of economics that studies individual markets and decision-makers
  7. 11. An economic system where the government makes all major decisions
  8. 13. Economist associated with the Chicago School of Economics, monetarism and free markets
  9. 14. A theory assuming rational decision-making by consumers
  10. 15. An unseen body part, Economic idea that self-interest can benefit society
  11. 18. A subtle policy tool that influences choices without restricting options
Down
  1. 1. The value of the next best alternative when a choice is made
  2. 3. Economic agents who create goods and services
  3. 8. A decision made because resources are limited
  4. 9. A natural resource used in production, such as forests or mineral areas
  5. 12. The economist often called the “father of modern economics”
  6. 16. Human effort used in the production of goods and services
  7. 17. An example of an economy combining market forces and government intervention