Level 1 Economics

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Across
  1. 2. Things we require to sustain life
  2. 4. Goods that are used in place of each other
  3. 6. Calculated by subtracting costs from revenue
  4. 7. Limited means and unlimited wants
  5. 8. Lower quality goods or services that we buy proportionally less of as our income rises
  6. 10. Goods that are often used together
Down
  1. 1. A tax applied to all goods and services that are sold
  2. 3. Where quantity demanded is equal to quantity supplied
  3. 5. Quantity demanded exceeds quantity supplied
  4. 7. Quantity supplied exceeds quantity demanded
  5. 9. Calculated by multiplying the quantity by the price