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Across 1. a situation that exists when price is charged for the good. the producer can exclude consumers from using a particular product by charging a price 4. a time period that all inputs are variable 6. the goods between the characteristics of private good and public good 7. a statement that is based on factual evidence , think of your papa. 8. comes up with every choice, the next best alternative that is forgone, the slope 9. the demand for something that is less important than the demand for a need, such as a new car 10. PPC move outwards , an increase in the production potential or real level of output of an economy 19. mental and physical effort of workforce involved in production 21. all other things being equal 22. good that does not have scarcity 23. one person consumes a product will reduce the extent of its availability to other people 24. the need to make a decision about the possible alternative uses of the resources, given the existence of scarcity 25. a good will be under produced if provides in a mkt economy, because of the positive externality

Down 2. a free good does not need this, the method to distribute scarce resources in an economy 3. a private good has a feature of relative scarcity 5. the demand for something that is essential, such as food or shelter 11. man made tools and machine used to facilitate the production of other goods 12. expenditure on capital goods/assets that will generate income in the future 13. a period of time in which at least one factor of production is fixes 14. a statement that is based on beliefs and value judgement 15. a good is non-rival and non-excludable 16. a factor of production, whose reward is rent 17. a person has no incentive to pay for the use of a good, because of the non-exculdable 18. make decisions of how to allocate the other three factors of production and bear risk in between 20. a condition where there are insufficient resource to satisfy all the needs and wants of people 26. the maximum combination of products that are possible to produce in a given period period time with given resource and technology, also known as PPC,PPB