Economics Revision
Across
- 1. What firms/businesses give households in a flow diagram
- 4. Something that is essential for survival
- 7. The 'C' in factors of production
- 11. Someone who makes a good or service
- 13. The point where demand and supply meet on a graph
- 14. The 'x' flow of income explains how money moves through an economy
- 15. Pricing strategy where you charge $5.95 to make people think it's cheaper
- 17. What you give up by choosing another option
- 18. On a supply and demand graph, what INCREASES as price and quantity increase?
- 21. A customer who always buys goods and services from the same business
- 22. A consumer who only buys things when they are good value for money
Down
- 2. A producer who produces food
- 3. Wants are unlimited, but needs are limited
- 5. The 'E' in factors of production
- 6. A business may try to be 'x' - meaning they care about the people who make their products
- 8. A producer who manufactures good in a factory
- 9. Someone who buys a good or service
- 10. Coles and Woolies banning plastic bags is an example of responding to which consumer demand?
- 12. Pricing strategy where you charge a lot to make it look expensive
- 16. The name for the group that give money to firms/businesses in a flow diagram
- 19. Acronym for Factors of Production
- 20. Something that you don't have to have but desire