Micro Economics Crossword

A social science which studies the allocation of scarce resources which have alternative uses.
Something essential for survival
Something we would like to have
The cost of the foregone alternative
The supply of resources are limited and the demand is unlimited.
Anything provided by nature used in the production of goods and services.
Earned by labour
Anything man-made used in the production of goods and services
The buying and selling of finished goods takes place here.
An economic system where the factors of production are owned by private individuals.
A country which has a centrally planned economy.
Ireland's economic system.
A flow of wealth.
Total value of all assets.
The addition to total utility a consumer gets from consuming an extra unit of a good
No tendency to change
The number of units of goods a consumer will buy at various prices.
The number of units a firm will make available for sale at various prices.
Caused by a change in the price of a good
Caused by non-price determinants
Another good a producer could switch to.
A person who buys for their own personal use.
Demand backed up by purchasing power.
Obeys the law of demand and has a positive income effect
When the price of a good falls it means that a consumer's real income will rise.
Goods that satisfy the same need.
Have a positive price effect.
The difference between what a consumer actually pays for a good and the maximum he would have been willing to pay.
Where two or more goods are used in conjunction with each other.
As price increases, the quantity supplied increases.
The difference between what a producer receives for a good and the minimum he was willing to accept.
We assume a consumer will act in this manner.
A table of information.
Goods that do not follow the Law of Diminishing Marginal Utility
The amount of benefit or satisfaction derived from the consumption of a good or service.