Ryan's economics revision

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Across
  1. 4. a business who employ workers to produce goods and services
  2. 7. a person who makes and sells things for a profit
  3. 9. allocation the way we distribute scarce resources to produces and consumers
  4. 11. the higher the price that a good or service can be sold for, the higher the quantity that suppliers are willing to produce
  5. 12. the amount of money earned by a business after all of its expenses have been paid for
  6. 14. a person who buys things to use
  7. 15. the amount of money that a worker is paid based on the work that they provide
  8. 16. the general increase in prices of goods and services
Down
  1. 1. a rival business who makes products in the same market
  2. 2. The total value of goods and services produced in a country over a year
  3. 3. when prices rise, the quality demanded decreases and when prices fall, the quality demanded increases
  4. 5. the exchange of goods and services among buyers and sellers
  5. 6. the study of how people and society use resources to satisfy their needs and wants
  6. 8. flow model illustrates the interdependent relationship between business and consumers in a market economy
  7. 10. mechanism the way price can affect the supply and demand of goods and services
  8. 11. the problem of people having unlimited wants and needs but limited resources to support those needs and wants
  9. 13. money that the government collects from the public to pay for public goods and services
  10. 17. the skills knowledge and effort provided by a worker