Microeconomics - Booklet 1: Key Terms

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U U S F Y K O F Q C Q S C A R C I T Y A H
M M B O S R T C C G R M S N O D N N Q S U
O M I W H U R T A U V C M A U H O O C S G
W P O W R D U Y W U I A H X C I E I U L W
E Y C X N N Q B J T R V M Q T A M C Q R X
N X Q H I P U K J K T B P A S O Q A W H X
Y O G G S H L A E M B E C L N T D U S H S
X I I J G B D T G N I O T O X G R N M R X
W Q A W U B E Q H A L O C M I T R K I Q J
Q F N P S C P U Y L B E J C O U Y R C X Q
N J M R O U H R A O E X M H J M S W C L F
R T W N H B S E Q V V A I A R D W M Q E O
B G O O X Y C B I O J N V C E X H I V Y K
O M D H C R Q T N T B A T T T E C I R S V
Y R L I U I I C H I F V C C U D L F U M K
V Q X O S S S X C P B F W E N N K M K D D
E W S C O N F I M I Y N M D I Y I N W C T
N E N P S S Q L L G Q I C W S L O Q Y Y K
R S Q K F L F B G Q L L E O F V G E X P X
P F D J X W F M C J Y V W Q N V H L Y A E
I T F W X Y J U L T N O P M N G O X B I U

Clues

  • A situation that arises due to unlimited wants and limited resources (8)
  • An economy where the market forces of supply and demand guide the allocation of resources (6, 7)
  • Statements about what is i.e. about facts (8, 9)
  • The way in which society's productive assets are used amongst their alternative uses (8, 10)

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