Year 9 Economics Glossary

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Across
  1. 1. Used to pay for goods and services
  2. 3. income flows which are added to the circular flow of income model
  3. 5. A system where factors of production are owned by the government
  4. 6. equipment used to make goods and services
  5. 9. Financial assistance given to people by the government
  6. 10. all human effort, both physical and mental
  7. 12. Money paid at a particular rate for the money lent
  8. 13. Institution which handles money for households and firms
  9. 14. Reward for use of resources
Down
  1. 2. goods and services sold overseas
  2. 4. action of only doing one part of the process
  3. 6. A system where all factors of production, distribution, and consumption of goods and services are controlled by the government
  4. 7. an organization that sells goods
  5. 8. Basic units used to make goods and services
  6. 10. Income flows that are removed from the circular flow model
  7. 11. Ability to combine all resources to make something