Economics
Across
- 2. when there's a increase in efficiency there will be more
- 4. Income received from the factors of production (land, labour, enterprise and capital).
- 5. Depicts the maximum level of output possible for a country when all resources are used to maximum efficiency.
- 6. Is the total income received from all sources, including government transfers.
- 10. A consumer's desire and willingness to pay a price for a specific good or service
- 11. Is a term describing generally falling prices over a period of time. It can happen in recession.
- 14. The rate of inflation is
- 15. Is the sum of all apending or demand on final goods and services.
- 16. is a wave pattern which records the various phrases the level of economic activity.
- 17. Is where people's needs and wants are virtually unlimited.
- 23. All firms produce similar yet not perfect substitute products.
- 27. The total amount of a specific good or service that is available to consumers.
- 29. This bank decides on interest rates.
- 30. Represents the degree of income equality or inequality
- 32. CPI measures this
- 33. To create more productivity you need more
- 34. This commission sets up promotes competition and fair trade in markets to benefit consumers and businesses
- 35. a system that increases or decreases taxes
- 38. might be called market or current.
- 39. A situation in which the supply and demand for a good or service can vary significantly due to the price
- 40. Concept or idea of fairness in economics
Down
- 1. Always between 0 and 1
- 3. the loss of other alternatives when one alternative is chosen.
- 7. another term for Real GDP
- 8. Is a measure of the total inflation within an economy
- 9. the situation in which the supply and demand for a good or service are unaffected when the price of that good or service changes.
- 12. Is the stock of financial and material assets a person accumulate through savings or inheritance, including land, houses, shares and savings.
- 13. the 45 degree line that represents equality.
- 18. buying foreign made goods is called
- 19. Australian made goods sold to a overseas market is called
- 20. Is an extreme situation where prices rise very quickly
- 21. Is a measure of inflation that excludes certain items that face volatile price like food and energy.
- 22. Income after tax revenues is called
- 23. a system that the RBA which increases or decreases interest rates
- 24. Is received by people who haven’t directly participated in the production process from people who have participated in that process.
- 25. is a supply side factor in which the wage increase very high, then the cost of production for the company, then to maintain profits they would increase prices.
- 26. A compulsory contribution to state revenue
- 28. Higher Gini Coefficient means
- 31. when a market system is when one market is dominating
- 36. Opposite of inflation
- 37. A market system where their is limited competition