Applied Economics

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Across
  1. 1. A term used to describe a situation where the quantity demanded of a good changes significantly in response to a price change.
  2. 3. The process of distinguishing a product or service from others to make it more attractive to a particular target market.
  3. 7. A market structure dominated by a few large firms, where each firm has significant influence over the market.
  4. 10. An agreement between firms to fix prices or limit competition in order to achieve a favorable market outcome.
  5. 11. (PPF): A curve that shows the maximum feasible amount of two goods that an economy can produce given its resources and technology.
  6. 13. A payment made by a tenant to a landlord for the use of land or property.
  7. 14. A situation where the quantity demanded of a good changes very little in response to a price change.
  8. 16. Goods that are produced and consumed by the end consumer, not used to produce other goods.
  9. 17. A situation where any small change in price results in an infinite change in the quantity demanded.
  10. 18. Items that are purchased for investment purposes, often for their rarity, condition, or historical value, like art, coins, or antiques.
  11. 19. A situation where the quantity demanded of a good remains unchanged regardless of the price change.
  12. 20. A tax imposed on the transfer of property by gift or donation.
  13. 22. The value of access to specific geographic areas, often used in property or real estate valuation.
  14. 23. The allocation of resources (such as money or capital) into assets or projects that are expected to generate income or appreciation over time.
  15. 24. The rate at which the general level of prices for goods and services rises, leading to a decrease in purchasing power.
  16. 27. A good for which demand increases as income rises, and decreases as income falls.
  17. 32. The actual rate of interest earned or paid on a loan or investment after accounting for the effect of compounding.
  18. 33. The total income generated by a business from the sale of goods or services.
  19. 35. A simplified representation of an economic process or system used to analyze and predict economic behavior.
  20. 37. A measure of how much the quantity demanded of a good changes in response to a change in price.
  21. 38. A market structure where a single firm dominates the market and has significant control over prices and supply.
  22. 39. Mandatory contributions levied on individuals or businesses by a government to fund public expenditures.
  23. 40. The organizational characteristics of a market, including the number of firms, product differentiation, and the level of competition.
  24. 42. The original sum of money invested or loaned, before interest or other charges.
  25. 43. A good that is used in conjunction with another good, such as printers and ink.
  26. 44. The responsiveness of the quantity demanded for one good to a change in the price of another good.
Down
  1. 2. Banks that primarily serve businesses and corporations, providing services like business loans, treasury management, and cash management.
  2. 4. A tax on specific goods, often imposed on products like alcohol, tobacco, and gasoline.
  3. 5. The lowest legal wage that an employer can pay an employee, often set by the government.
  4. 6. The increase in the value of an asset over time, often due to market demand or improvements in the asset's condition.
  5. 8. A market structure characterized by many firms offering differentiated products that are not perfect substitutes.
  6. 9. A situation where the quantity demanded of a good changes exactly in proportion to the price change.
  7. 12. Financial institutions that accept deposits from the public, offer loans, and provide other financial services.
  8. 14. The percentage charged on a loan or paid on an investment over a period of time.
  9. 15. A tax levied by governments on individuals’ or businesses’ earnings.
  10. 21. Goods that are used in the production of other goods, not sold directly to consumers.
  11. 25. A good for which demand decreases as income rises, and increases as income falls.
  12. 26. A tax on the value of real estate or personal property, typically levied by local governments.
  13. 28. A market structure where numerous small firms sell identical products, and no single firm can influence the market price. There are no barriers to entry or exit.
  14. 29. Investment funds that pool money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other securities.
  15. 30. The stated interest rate on a loan or investment, without adjusting for inflation.
  16. 31. Banks that provide services directly to individuals, including checking and savings accounts, personal loans, and mortgages.
  17. 34. A tax on an individual’s salary or income, typically withheld by an employer.
  18. 36. A type of digital or virtual currency that uses cryptography for security, making it difficult to counterfeit or double-spend.
  19. 41. Securities that represent ownership in a corporation and constitute a claim on part of the corporation’s assets and earnings.