Microeconomics - Booklet 1: Key Terms

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

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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