OCR AS Micro economics key terms definitions

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

Clues

  • Goods not provided in a free market (6, 5)
  • Goods that are excludable , have rivalry in consumption and rejectablity (7, 5)
  • Goods under provided in a free market (5, 5)
  • Land, Labour, Capital and Enterprise (7, 2, 10)
  • Putting a monetary value on an externality (6, 7)
  • Scarce recourses and infinite wants (8, 7)
  • Socially undesirable goods (7, 5)
  • The difference between the price producers are willing to sell at and the price actually sold at (8, 7)
  • The next best alternative forgone for the option chosen (11, 4)
  • When markets fail to deliver efficiency (6, 7)

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