Economics Crossword

1. a tax imposed so that the tax rate is fixed
4. refers to an agreement to purchase a product or service with the express promise to pay for it later.
9. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
12. a type of not-for-profit financial institution controlled by its members, the people who deposit money into it.
13. is the amount a lender charges a borrower and is a percentage of the principal—the amount loaned.
14. a financial product commonly sold by banks, thrift institutions, and credit unions.
15. is the process of allocating capital in a way that reduces the exposure to any one particular asset or risk.
17. an open-end professionally managed investment fund that pools money from many investors to purchase securities.
19. anything owed by one person to another.

2. a tax imposed on individuals or entities in respect of the income or profits earned by them. Income tax generally is computed as the product of a tax rate times the taxable income.
3. the future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events
4. is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods
5. is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate.
6. a component of the economy which provides short-term funds.
7. is any duty on manufactured goods that is levied at the moment of manufacture rather than at sale.
8. one where the average tax burden increases with income.
10. is a loan where the interest rate doesn't fluctuate during the fixed rate period of the loan.
11. the payments a person receives upon retirement
16. a thing that motivates or encourages one to do something.
18. to allocate money with the expectation of a positive benefit/return in the future.