11 ECONOMICS

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Across
  1. 4. Country with higest unemployment rate in 2024
  2. 7. The quantity of a good or service an individual is willing and able to buy at a range of prices.
  3. 11. This keeps track of the changes in prices of key consumer goods and is used to measure inflation
  4. 12. The amount of output (i.e. goods and services) that be produced per unit of input (resources).
  5. 13. a tax on imported goods.
  6. 14. a particular individual or firm who or which makes or supplies a good or service.
  7. 15. Required for survival and include food, clothing and shelter.
  8. 16. The difference between the revenue received for selling goods and services and the cost of producing those goods and services
  9. 19. A type of good that a consumer will buy more of as their income decreases e.g. cheaper cuts of meat like rump steak
  10. 20. Funds given to producers by government to encourage the production of merit goods
  11. 21. Country with highest rate of inflation in 2024
  12. 22. Goods that can be used instead of each other.
  13. 26. Country with the greatest GDP growth in 2024
  14. 27. an increase in the general price level
  15. 30. Personalresources (time, skills and money) that we use to acquire our needs and wants.
  16. 31. When price change, there will be a more than proportionate change in the quantity demanded when good have this type of PED
  17. 33. a model which shows the changes in RGDP overtime
  18. 35. Expenditure of time or money in conforming with government requirements such as legislation or regulation.
  19. 36. An ndividual who buys goods and services for their own use.
  20. 37. Innovation that results in a rise in productivity.
  21. 39. The loss of the next best alternative when a decision is made.
Down
  1. 1. The price at which the quantity demanded is equal to quantity supplied
  2. 2. Types of goods produced with similar resources and production processes
  3. 3. A place or situation where goods and services are exchanged
  4. 5. As price increases quantity demanded decreases, ceteris paribus and vice versa
  5. 6. Occurs when individuals have unlimited wants but only limited means to satisfy them.
  6. 8. Total value of goods and services produced in an economy in a year
  7. 9. total demand by all sectors/groups in the economy
  8. 10. a model which illustrates total supply and demand in the economy
  9. 11. A good that is consumed with another e.g. salt and pepper.
  10. 17. An individual’s net income. Calculated by subtracting income tax from gross income.
  11. 18. involved in producing goods or services.
  12. 23. Addition cost placed on demerit goods by the government in order to discourage consumption
  13. 24. Funds from the government to an individual e.g. the unemployment benefit.
  14. 25. A high quality good or service that an individual demands more of as their income increases.
  15. 28. Highest grossing film in 2024 - a sequel
  16. 29. The income a producer receives from selling goods and services.
  17. 32. Goods or services we desire because they will improve our quality of life e.g. air conditioning in this classroom.
  18. 34. The quantity of a good or service that a producer is willing and able to sell at a range of prices.
  19. 38. Set by the RBNZ to control interest rates