Economics

4. The extra hours worked by employees beyond their standard schedule, which influences the total quantity of labour.
5. A type of bank that provides loans to individuals and firms to make a profit.
8. To take money from a bank or lender with the intention of paying it back later.
12. The amount of output produced per factor of production in one hour.
14. Money acts as a ______ of value because it can be kept for use in the future.
15. A function of money where it acts as a ______ of value to compare the price of items.
16. The money paid to workers, such as actors, for the labour they provide.

1. The quantity of labour is largely determined by the size of a country's ______.
2. The money a person receives, which determines how much they are able to spend or save.
3. Another term for the labour force, which includes people working or looking for work.
6. The factor of production that consists of human effort used in making goods.
7. Something used as a medium of exchange to buy goods and services.
9. The age at which a worker usually stops working and leaves the workforce.
10. This is what a household does when it uses income to buy goods and services.
11. Money acts as a standard for ______ payment, which allows people to borrow and lend.
13. The total amount of goods and services produced by the factors of production.
14. The portion of a household’s income that is not spent.