1. 3. Goods that when consumed provide external benefits
  2. 4. The quantity of a particular good or service that consumers are willing and able to purchase at various price levels
  3. 9. Items that add money into the circular flow of income
  4. 11. An organisation that represents the interests of workers
  5. 13. External costs and benefits that are not considered
  6. 16. The percentage of the population in the labour force
  7. 18. The tool of the government for the exercise of fiscal policy
  8. 19. An industry where there is only one seller producing a unique product
  9. 20. Items that remove money from the circular flow of income
  1. 1. Fluctuations in the level of economic growth due to either domestic or international factors
  2. 2. The sustained increase in the general level of prices over a period of time
  3. 5. Achieved in an individual market when any consumer who is willing to pay the market price for a good or service is satisfied, and any producer who offers their goods or services at the market price is able to sell their product
  4. 6. The interest rate paid on overnight loans in the short-term money market
  5. 7. A number that measures the extent of income inequality in an economy
  6. 8. The amount of money that an individual or household earns
  7. 10. A measure of the money supply that consists of currency in circulation
  8. 12. Occurs when firms agree on a pricing or market-sharing arrangement that reduces competition between them
  9. 14. Items that have not been produced for immediate consumption but will be used for the production of other goods
  10. 15. When the price mechanism fails to take into account indirect costs
  11. 17. A measure of the actual purchasing power of money wages