Chapter one: The reason for individuals, organisations and societies having to make choices

1. an economic system in which most resources are state owned and also allocated centrally (7, 7)
2. the quantity and quality of human resources (6)
5. the process by which goods and services are traded (8)
6. the selection of appropriate alternatives (6)

2. natural resources in an economy (4)
3. an economic system in which resources are allocated through a mixture of the market and direct public sector involvement (5, 7)
7. a simplified view of reality that is used by economist as a means of explaining economic relationships (5)
8. the study of how to allocate scarce resources in the most effective way (9)
9. anything you would like irrespective of whether you will have the resources to purchase it (4)
10. group of people whose spending decisions are connected (9)

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