Across
- 2. the next best alternative that is given up whenever a choice is made
- 4. the range of options available to an individual in making a decision is called a __________
- 8. a ______ good is one that is so readily available that consumers do not have to make a scarifice to use it such as air,sunlight
- 9. anything that is necessary for survival
- 10. In every society,choices have to be made because there are insufficient _____ to produce all the things people want.
- 14. this shows the various combinations of two goods that an economy is able to produce
- 16. any point on the PPF is known as an _____ point
- 18. economics is a ______ science since it deals with human behaviour
- 19. whenever the same amount of a good is given up to increase the production of another is known as____opportunity cost
- 20. any point found inside of the PPF is an ____ point
Down
- 1. these are desired but not necessary for survival
- 3. Country X can produce 1 bread,50 weaves,2 bread, 35 weaves,3 bread, 15 weaves.The type of opportunity cost is ____.
- 5. the shape of the PPF for increasing opportunity cost is bowed _________
- 6. _________ ,firms and government are the main economic agents
- 7. this means that our available resources cannot match our needs and wants
- 11. An improvement in machinery and equipment will cause the PPF for bananas and dasheens to ____ to the right
- 12. this branch of economics has to do with factors affecting households and firms
- 13. An improvement in fertilisers for bananas will cause the PPF for bananas and dasheens to _____ outwards.
- 15. any point to the right of the PPF is an ___point
- 17. the shape of the PPF for decreasing opportunity cost is bowed _________