Economic methodology and the economic problem

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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)

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