Week 1 Economics

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Across
  1. 3. Also known as 'producers', they produce goods and services to sell.
  2. 4. How the government raises money to pay for government services.
  3. 5. Something not necessary for life, but nice to have.
  4. 7. How we allocate limited resources to satisfy unlimited wants.
  5. 9. A product you purchase that can be physically held, seen and possessed.
  6. 10. The ________ Flow model shows the interaction between sectors in the economy.
  7. 11. Also known as 'consumers', purchase goods and services to consume them.
  8. 12. A product that can be purchased which is an action somebody performs for you.
Down
  1. 1. Occurs whenever buyers and sellers exchange goods and services.
  2. 2. Also known as 'goods and services tax', the government charges this tax of 10% on all purchases in Australia.
  3. 3. This sector includes banks and collects savings to invest in businesses.
  4. 6. Something necessary for life.
  5. 8. Also known as the 'international sector', this includes imports and exports.