Across
- 3. the next best alternative forgone
- 5. something unlimited in supply (e.g. air, sea, rainwater, sunlight, public domain websites etc.)
- 7. as price increases the people willing to produce increases
- 10. what to produce, for whom to produce & how to produce
- 11. the study of how resources are allocated to satisfy the unlimited wants/needs of firms, individuals & goverments
Down
- 1. when there are limited resources and unlimited wants/needs
- 2. land, labour, capital & production
- 4. price increases, demand decreases & vice versa
- 6. somethinng that is limited in supply (e.g. oil, wheat, cotton, housing, cars etc.)
- 8. the quantity of a good or service that you are willing and able to buy
- 9. the quantity of a good or service that you are willing and able to produce