Across
- 4. If a point is on the PPC curve it is _____
- 6. Societies wants are unlimited but resources are limited
- 8. What you give up when making a decision is _____ cost
- 10. Producing according to comparative advantage
- 13. Subjective and value-based economics is ______ economics
- 14. _____ economy - has a public and private sector
- 15. ____ - private ownership and complete freedom of enterprise
- 16. If a point is outside the curve it is ____
- 17. Lost opportunities given up as a part of the decision is an ____ cost
Down
- 1. Objective and fact-based economics is _______ economics
- 2. Output reflects the wants and needs of consumers is ______ efficiency
- 3. When you produce a product in the least costly way possible it is ______ efficiency
- 5. What you spend, is an _____ cost
- 7. When one country has more goods than another country it has what type of advantage?
- 9. If a point is inside the PPC curve it is _____
- 11. If the government controls the economy, it is _________
- 12. Producer with the lowest per unit opportunity cost, is a ____ advantage