Favian Economics GCSE

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Across
  1. 2. Is a situation in which a single company or group owns all or nearly all of the market for a given type of product or service.
  2. 3. The proportion of a loan that is charged, typically expressed as an annual percentage of the loan outstanding.
  3. 4. The lowest wage permitted by law or by a special agreement.
  4. 6. The total amount of a specific good or service that is available to consumers.
  5. 7. An economic principle that describes a consumer's willingness to pay a price for a specific good or service
  6. 10. Is a measure of average income per person in a country.
  7. 11. The loss of other option when one option is chosen.
  8. 12. A general vote by the electorate on a single political question which has been referred to them for a direct decision.
Down
  1. 1. Low inflation and economic growth are examples of this word
  2. 5. A method of production where a business or area focuses on a certain job
  3. 6. Economic problem of having limited resources, however people always want more.
  4. 8. A sustained increase in the general price level of goods and services in an economy over a period of time
  5. 9. A value of all final goods and services produced in a period (quarterly or yearly)