Economics kEYWORDS

5. Human needs are unlimited
6. An objective of reaching a "good enough" profit level, without maximising (normal profits)
7. A statement that is based on personal judgement and opinion
11. When firms are willing to sell more products than consumers are willing/able to buy
12. The point where the (5th word) curve crosses through the (6th word) curve
14. The amount of goods/services consumers are willing to pay at a given price
15. An objective which is mainly help by external stakeholders who will expect to receive this as a reward for investing their money.
16. An objective of reaching the highest possible surplus of sales revenue over costs

1. A statement that is based on facts and figures
2. An objective of increasing the "presence" in the industry with the aim of pushing the other firms out!
3. There are more consumers willing to buy these products than the amount firms are willing/able to sell
4. An objectives of making sure you make enough sales to see to next year
8. An objective of generating the greatest amount of revenue from the sale of goods and services
9. An objective that ensures repeat purchases, or an outcome of fair and responsible business behaviour
10. Cost The next best alternative forgone
13. The amount of goods/services firms are willing to sell at a given price