Year 9 Economics Glossary

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Across
  1. 1. Equipment used to make goods and services
  2. 3. Income flows that are removed from the Circular Flow model. (savings, tax, imports)
  3. 7. A system where all factors of production, distribution and consumption of goods and services are controlled by the government
  4. 9. Where actions by one party have impacts on another, particularly economically.
  5. 11. A company that operates in many countries with independent headquarters in each.(McDonalds)
  6. 14. The cost of the next-best alternative opportunity
  7. 15. A system where factors of production are owned by the government
  8. 16. Income flows which are added to the Circular Flow of Income model (investment, govt. spending, exports)
Down
  1. 2. A company which operates in several countries with its headquarters in the parent country. (Apple)
  2. 4. Financial assistance given to people by the Government
  3. 5. An economy where people produce only enough goods and services for their own family
  4. 6. Complex group of firms in many countries each producing a component of a final product.
  5. 8. Ability to combine all resources to make something (plan, recipe, system etc)
  6. 10. Raw materials used to make goods and services (land, labour, capital & enterprise)
  7. 12. Place where factors of production are bought and sold.
  8. 13. Institution which handles money for households and firms