Economics MICRO key words

Across

• 1. the right to use or exploit an economic resource to a specfic degree e.g fishing permit or premits to realse co2 (9, 6)
• 4. Thinking shortcuts, or informed guesses that individulas use to make decisions in order to save time and effort (5, 2, 5)
• 5. the diffrence between total revenues and total costs (6)
• 8. a period of time over which all factors of production can be varied (4, 3)
• 9. the removal of rules and regualtions in order to increase efficiency within a market (12)
• 10. where one thing is traded for something else e.g an hours work is given for a set rate of pay (8)