Vocabulary: Economics

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