Economics
Across
- 6. rider, a person or organization that receives benefits that others have paid for without making any contributions.
- 8. failure, when government intervention leads to a net welfare loss compared to the free market solution.
- 10. a fall in the rate of inflation.
- 11. total expenditure by households on goods and services over a period of time.
- 13. the study of economy as a whole.
- 17. government actions or policies to restrict international trade.
- 18. failure, where resources are inefficiently allocated due to imperfections in the working of the market mechanism.
- 19. addition to an existing course of plan.
Down
- 1. large increases in the price level.
- 2. the process of removing government controls from markets.
- 3. the cost incurred to or the benefit received to the third party from an economic activity.
- 4. buying or selling something in the expectation of a future price change and a profit.
- 5. a loan to help buy a house.
- 7. when a firm splits into two or more independent businesses.
- 9. two quarters of negative economic growth in a row.
- 10. income, household income over a period of time including state benefits, less direct taxes.
- 12. unemployment, unemployment caused by long term changes in the pattern of demand and production of an industry.
- 14. efficiency, efficiency occurring over time as a result of investment and innovations.
- 15. mechanism, the way the decisions made by households and firms interact to decide the allocation of resources.
- 16. population, people aged below school leaving age and above the retirement age of the country.