Midterm Examination in Economics (Part 1)

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Across
  1. 2. it includes natural resources such as timber, oil, coal, iron, soil and water as well as the ground in which these resources are found.
  2. 4. is the study of the entire behavior of the economy
  3. 5. man-made goods used to produce other goods or services.
  4. 9. a scientific study, which deals with how individuals and society generally make choices.
  5. 11. the process of trading goods and services for money
  6. 12. the work and time for which employees are paid.
  7. 13. these are basic requirements for survival
  8. 14. deals with the allocation of the social or national income among the different factors of production
Down
  1. 1. simply the desires of citizens
  2. 3. tangible commodity. These are bought, sold, traded and produced.
  3. 4. is the study of economics which deals with the behavior and activities of individuals in specific units
  4. 6. is the use of inputs to produce outputs.
  5. 7. refers to the utilization of goods and services by any individual to satisfy human wants.
  6. 8. refers to any property and assets of a person that have a useful value
  7. 10. work that is performed for someone.