Across
- 4. Both labour and capital are variable
- 5. An economic situation where not enough resources are available
- 7. The study of how people use limited resources to satisfy their needs and wants
- 8. The production possibilities curve
- 9. one factor of production is fixed
- 10. The Latin term meaning 'all other things being equal
- 13. When all factors of production are variable, includeing technology/regulation
- 14. To manage or handle resources effectively due to their limited nature
- 16. A factor of production that includes human effort
- 17. Decision on how resources are to be allocated are regulary
- 20. Tangible, easily sold in the market, and it depreciates with the passage of time
Down
- 1. The government a central role in all decision that are made
- 2. Intangible, cannot be sold in the market, and depreciation in human capital can be reduced by making continuous investment
- 3. In a mixed economy, both the private sector and public sector have a part to play in the allocation of recources
- 6. Type of economics that deals with objective, fact-based analysis
- 11. Economic problem of having limited resources for unlimited wants
- 12. A mark or point given for a fault or deficiency, often used in disciplinary systems
- 15. Economics that involves value judgments and opinions about what ought to be
- 18. The study of individual economic units, such as households and firms
- 19. The branch of economics that looks at the economy as a whole