Vocabulary: Economics
Across
- 1. the sum of the notes, coins and deposits in banks & financial institution
- 3. money available after paying taxes that you can choose how to use
- 8. HDI
- 9. Supply is greater than market demand
- 15. GDP with the effects of inflation removed
- 16. goods that can be used as a alternative
- 19. merging of firms at the same stage of production
- 20. goods that are perceived to have a negative impactt on society
- 23. goods that are purchased to support/go with another product
- 24. when an increase in the scale of production results in increased average costs
- 26. take a higher % of income as tax from higher earners
- 29. Government expenditure is greater than its income for that year
- 31. Taxation on spending (VAT, excise duties, import taxes)
- 34. system of trade through swapping items
- 36. unemployment associated with people that are between jobs
- 37. cost of borrowing money
- 39. Limits on the number of imports of certain products
- 40. good provided by government that everybody benefits from
- 41. Small number of businesses that dominate the industry
- 42. Fixed costs + Variable costs = _____costs
Down
- 2. private costs + external costs
- 4. Total Demand in the economy (expenditure + exports + investment + government spending)
- 5. total revenue/number of product/services sold.
- 6. not enough resources to support the population
- 7. Methods of restricting imports and possibly increasing exports.
- 10. private benefits + external benefits
- 11. the government's bank, responsible for issuing money, setting interest rates.
- 12. payment based on quantity produced
- 13. point at which the supply and demand curves intersect
- 14. A person who owns a business by themselves
- 17. total cost/output
- 18. organisation of workers that negotiate wages, working conditions & hours
- 21. money made from sales
- 22. limited availability of resources
- 25. Goods bought into a country
- 27. goods that consumers demand less of as incomes increase
- 28. Money given to businesses/industries to attract investment
- 30. unemployment linked to the boom & bust cycles of the economy
- 32. responsiveness of quantity supplied or demanded in relation to changes in price
- 33. land, labour, capital, enterprise
- 35. Taxes placed on imports
- 38. A ban on the import of a product/products from a certain country