Economic methodology and the economic problem
- Created by: Zaid_Saleemi
- Created on: 01-03-18 17:20
W | S | Q | X | F | W | Y | R | A | F | Y | A | U | Q | K | C | B | B | D | K | D |
E | T | S | T | V | V | Q | H | O | P | P | T | V | H | R | G | A | L | K | F | A |
Y | N | Q | E | J | T | T | E | M | P | R | D | I | E | F | O | S | K | E | Q | R |
T | E | M | K | E | C | S | S | N | E | O | Y | K | B | S | U | I | X | T | P | W |
I | M | E | R | P | O | U | E | J | H | S | L | S | K | H | K | C | C | U | O | F |
L | E | R | A | U | M | B | I | V | T | O | D | W | V | M | D | E | O | P | D | A |
I | T | A | M | C | M | I | L | O | F | F | J | T | S | E | Q | C | P | B | A | I |
T | A | T | E | I | A | R | H | D | O | A | H | T | V | A | F | O | P | V | G | M |
U | T | I | E | Q | N | A | T | T | T | F | O | O | I | I | J | N | O | N | L | E |
L | S | O | R | X | D | P | T | S | F | R | J | X | W | N | T | O | R | U | F | D |
A | E | N | F | R | E | S | F | T | I | E | H | E | E | A | W | M | T | D | R | K |
N | V | A | A | R | C | I | E | H | H | E | T | B | X | F | J | I | U | R | K | O |
I | I | L | F | E | O | R | O | K | S | M | B | W | G | F | H | C | N | E | J | F |
G | T | M | O | O | N | E | P | T | D | A | O | B | V | M | M | P | I | S | J | I |
R | A | E | S | Q | O | T | E | C | R | R | X | F | C | V | K | R | T | C | T | S |
A | M | A | N | V | M | E | Y | U | A | K | A | H | L | F | C | O | Y | B | G | E |
M | R | N | O | J | Y | C | P | E | W | E | O | U | Y | X | Y | B | C | K | S | E |
X | O | S | C | V | H | P | M | L | N | T | H | K | I | C | X | L | O | X | P | W |
E | N | T | I | N | Q | H | T | H | I | P | F | P | A | V | U | E | S | O | H | A |
O | Y | O | S | P | Q | D | H | K | I | O | S | S | U | G | U | M | T | T | T | X |
A | X | N | M | V | B | Y | K | F | D | S | J | E | B | O | Y | E | F | H | C | B |
Clues
- An assumption used by economics that all other things are being held equal or constant (7, 7)
- Based on value judgements, subjective, opinion rather than factual evidence, can influence decision making (9, 10)
- Efficiency, Entrepreneurship, Choice (4, 2, 1, 4, 6)
- Fewer total resources - negative economic growth (6, 5, 2, 3, 3)
- Government decides how resources should be allocated (7, 7)
- How can the available scare resources be used to satisfy people's infinite needs and wants as effectively as possible? (5, 8, 7)
- Inequalities, Non-profitable goods may not be made, Monopolies (4, 2, 1, 4, 6)
- Make decisions that are best for themselves, will be based upon economic incentives (8, 5, 2)
- The benefit gained from consuming one additional unit of a good (8, 7)
- The opportunity cost of a decision is the next best alternative that you give up in making that decision (11, 4)
Comments
No comments have yet been made