Economics Revision

1. Bartering or trading
5. of production Land,Labour,Capital,Enterprise
6. Things that bring money into the economy
9. The money that is being taken out of the economy and is not being reinjected
10. Economic decsion making happens through the markets
12. Analysis a form of analysis used to compare a series of options using criterion.
14. a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries.
15. have a desire to possess or do (something); wish for.
16. wants Scenarios where people want to consume/purchase more and mroe items
17. the state of being scarce or in short supply; shortage.

2. The general gradual devaluation of money and assets over time
3. All activities undertaken for the purpose of the production, distribution and consumption of goods and services in a region or country
4. Economic Problem the fundamental challenge facing all societies, which is how to satisfy unlimited wants and needs with limited resources.
7. Resources and Businesses are owned by the government
8. Things that are necessary for day to day life
11. resources recources that are scarce
13. Cost the loss of other alternatives when one alternative is chosen.