Year 9 Economics

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Across
  1. 3. market Place where goods and services are bought and sold (Coles, Seek.com, Fremantle markets) Same as Market
  2. 7. Action of only doing one part of the process
  3. 10. of production Raw materials used to make goods and services (land, labour, capital & enterprise)
  4. 13. All resources provided by nature
  5. 17. Cost The cost of the next-best alternative opportunity
  6. 18. Basic units used to make goods and services
  7. 23. Purchase of new capital
  8. 24. Basic necessities for life
  9. 25. Reward for the use of resources
  10. 26. Place where goods and services are bought and sold.
  11. 27. A system which allows private ownership of the factors of production
  12. 28. Payment per year for labour
  13. 32. National Company A company that operates in many countries with independent headquarters in each.(McDonalds)
  14. 33. market Place where factors of production are bought and sold.
  15. 34. Payment per hour for labour
  16. 37. The study of how people use scarce resources to satisfy needs and wants
  17. 39. Used to pay for goods and services
  18. 40. Money paid at a particular rate for the money lent
  19. 43. A system where all factors of production, distribution and consumption of goods and services are controlled by the government
  20. 44. Equipment used to make goods and services
Down
  1. 1. Ability to combine all resources to make something (plan, recipe, system etc)
  2. 2. Financial assistance given to people by the Government
  3. 3. Payment earned by entrepreneurs
  4. 4. All human effort, both physical and intellectual
  5. 5. Final users of goods and services to satisfy their needs and wants
  6. 6. A system where factors of production are owned by the government
  7. 8. Goods and services sold overseas
  8. 9. Physical items used by consumer and services for a profit
  9. 11. Payment for use of land
  10. 12. An organization that sells goods
  11. 14. National Company A company which operates in several countries with its headquarters in the parent country. (Apple)
  12. 15. Organization with authority to make decisions for the population
  13. 16. Income flows that are removed from the Circular Flow model. (savings, tax, imports)
  14. 19. Institution which handles money for households and firms
  15. 20. Income flows which are added to the Circular Flow of Income model (investment, govt. spending, exports)
  16. 21. Actions done for consumers by producers
  17. 22. Where actions by one party have impacts on another, particularly economically.
  18. 29. That part of earnings not spent
  19. 30. Organisations that make goods and services
  20. 31. An economy where people produce only enough goods and services for their own family
  21. 35. Goods and services bought from overseas
  22. 36. Situation where demand is greater than supply
  23. 38. Goods and services which we desire but don’t need
  24. 41. Compulsory government levy
  25. 42. chain Complex group of firms in many countries each producing a component of a final product.