Year 10 Economics

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Across
  1. 6. the measure of responsiveness to a change in price
  2. 9. a factor of production
  3. 10. the acronym we use to determine the factors that affect the supply curve
  4. 11. the cost of borrowing
  5. 12. the number of factors of production
  6. 14. a place where buyers and sellers meet to exchange goods and services for money
  7. 17. an EoS concerned with bulk buying
  8. 18. the social science of allocating scarce resources for the production of goods and services that satisfy the needs and wants of the population.
  9. 20. a point inside the PPF
  10. 21. when the PED is less than 1.
  11. 22. costs which do not vary with output
  12. 23. the quantity of a product that producers are willing and able to produce at various prices over a given time period
Down
  1. 1. a point beyond the PPF
  2. 2. the acronym we use to determine the factors that affect the demand curve
  3. 3. cost the cost of the next best alternative foregone
  4. 4. what a consumer aims to maximise
  5. 5. costs which vary with output
  6. 7. a spillover effect on society of a transaction between two parties
  7. 8. what a firm aims to maximise
  8. 13. the quantity of a product that customers are willing and able to buy at various prices over a given time period
  9. 15. money given to a firm by the government to lower the cost of production
  10. 16. the output point at which costs and revenues are the same
  11. 19. the study of the global and national economy