Year 9 Economics Glossary

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