Economics Unit's 1-6

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Across
  1. 1. the quantity of a good or service that will be produced or sold at a particular price
  2. 3. A good or service that is under produced and under consumed e.g. education and healthcare
  3. 5. A measure of total value of a goods produced in an economy in a particular period
  4. 6. tax takes a greater proportion of income from a poor person than from a wealthy person
  5. 9. This is a type of business that produce and sell products in many countries
  6. 10. A contribution for the support of a government required of people and firms which would be taken from their income/revenue
  7. 11. This is the next best alternative that is sacrificed in making an economic choice
  8. 12. A company or group having exclusive control over a commercial activity
  9. 13. The basic economic problem
  10. 14. Is a type of economy where the government makes all of the decisions such as allocation of resources
  11. 17. occurs when there is a balance between demand and supply
  12. 19. a general rise in prices over a specific period of time
  13. 20. the quantity of a good or service that will be purchased at a particular price
Down
  1. 2. takes a greater proportion of income from a wealthy person than from a poor person
  2. 4. This is one of the 5 characteristics of money
  3. 7. an agreement by two or more partners to run a business together
  4. 8. Land, Labour, Capital and Enterprise
  5. 15. A good or service that is over produced and over consumed e.g. cigarettes
  6. 16. = percentage change in quantity supplied divided by percentage change in price
  7. 18. = percentage change in quantity of demand divided by percentage change in price