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Crossword Puzzle

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by kamila oldakowska
1

producing the combination of goods most wanted by the society, thus answering the 'what to produce' question in the best possible way

2

producing goods by using the fewest possible resources (the same as producing at the lowest possible cost), answering the 'hownto produce question' in the best possible way

3

the responsivness of quantity supplied to a change in price along a given supply curve

4

the responsivness of the quantity demanded of a good to changes in its price

5

motivating the decision-makers to respond to the information

6

communicating information to decision-makers

7

composed by a large numbers of buyers and sellers acting independently so that no individual seller or a small group of sellers has the ability to control the price of products sold; instead, the price of the product is determined by the interactions of many sellers and buyers, through the forces of the demand and supply

8

the price recieved by firms by selling their good minus the lowest that they are willing to accept to produce the good

9

the highest price that the consumers are willing to pay for a good minus the price actually payed

10

where buyers and sellers meet to make an economic transaction

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