Economics Crossword

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Across
  1. 4. - when businesses create their own prices
  2. 7. - A type of resource that is used to create goods by the use of machinery and/or tools
  3. 13. Competition - An industry that is similar to perfect competition but it is possible and products are not homogenous
  4. 14. - A person who has the skills to combine land, labour and capital together to produce goods and/or services
  5. 16. - A market where there is up to six sellers in the industry who still have influence over their own prices, but there is strong competition
  6. 18. efficiency - Being able to satisfy the needs and wants of everyone
  7. 19. products - alternative products
Down
  1. 1. - when businesses swap prices to match their competitors prices
  2. 2. - the amount of goods and services that producers are willing to produce/sell
  3. 3. - Workers used to produce goods and/or services
  4. 5. - Having limited resources
  5. 6. income - income after tax
  6. 8. competition - A market that is impossible but if it were possible there is no faults; all products are homogenous, everyone has perfect knowledge, negotiation is allowed and everyone is a 'price-taker'
  7. 9. efficiency - using maximum resources with the least amount of money
  8. 10. - A dominate seller in the market
  9. 11. possibility curve - A graph that shows the allocation and efficiency of resources
  10. 12. - Resources that are all natural
  11. 15. products - products that are brought together
  12. 17. - when society requests/wants a particular product or service