Economics

2. a fall in the rate of inflation.
6. the way the decisions made by households and firms interact to decide the allocation of resources.
8. two quarters of negative economic growth in a row.
9. a person or organization that receives benefits that others have paid for without making any contributions.
11. when government intervention leads to a net welfare loss compared to the free market solution.
13. the cost incurred to or the benefit received to the third party from an economic activity.
14. efficiency occurring over time as a result of investment and innovations.
17. where resources are inefficiently allocated due to imperfections in the working of the market mechanism.
19. addition to an existing course of plan.
20. people aged below school leaving age and above the retirement age of the country.

1. a loan to help buy a house.
3. unemployment caused by long term changes in the pattern of demand and production of an industry.
4. household income over a period of time including state benefits, less direct taxes.
5. when a firm splits into two or more independent businesses.
7. government actions or policies to restrict international trade.
10. the study of economy as a whole.
12. large increases in the price level.
15. buying or selling something in the expectation of a future price change and a profit.
16. the process of removing government controls from markets.
18. total expenditure by households on goods and services over a period of time.