Across
- 2. A term referring to the degree of responsiveness.
- 4. Economic growth that is represented by an increase in an economy's productive capacity.
- 5. Individuals in an economy are collectively referred to as this.
- 7. When demand and supply are equal.
- 10. Any entity not directly involved in an economic activity is referred to as this.
- 11. Any entity that enjoys a good or service without paying for it.
- 17. The price of one currency in terms of another currency.
- 19. This is also known as the vicious circle of poverty.
- 21. The total pay received by a worker.
- 23. The national income or output of an economy can be represented by this.
- 27. The largest contributor to a government revenue.
- 28. Inflation rate of an economy can be represented by this.
- 29. A type of product that is both rival and excludable.
- 30. This is likely to fall when inflation rate goes up.
- 31. When inflation rate grows at a rapid pace.
- 32. The degree of flexibility of resources to be moved occupationally or geographically.
- 33. An arrangement which brings buyers into contact with sellers.
- 36. Merging or taking over another firm in a totally different industry.
- 38. Merging or taking over another firm in the same industry at the same production stage.
- 40. Businesses in an economy are collectively referred to as this.
- 41. This is equal to average revenue
- 42. Excess profit above that is required to keep a firm in the market in the long run.
- 46. When supply and demand in the market are not operating in an efficient manner.
- 47. A type of good that does not require any resources to be produced and does not have an opportunity cost.
- 49. A problem caused by overpopulation, leading to scarcer resources and job opportunities.
- 50. The return to savings and the cost of borrowing.
Down
- 1. The reduction or elimination of rules and regulations that ate enforced by laws.
- 3. A type of unemployment caused by a fall in demand in one or a few industries.
- 6. A cost of inflation where buyers have to move around looking for the next best alternatives.
- 8. lack of double coincidence of wants is a drawback of this system.
- 9. The living standard and the degree of poverty in an economy can be shown by this.
- 12. A group of workers joining together to protect their common interests.
- 13. Sector of an economy that is involved in collection, processing, and transmission of information.
- 14. A type of good that is beneficial to society when consumed, but tends to be underproduced and underconsumed.
- 15. Rising average cost as a firm expands its scale of production.
- 16. The number of output per resource used.
- 18. An item generally accepted as a means of payment.
- 20. The skills and risk-taking ability of the owner to combine resources to produce goods/services.
- 22. When two or more firms agree to sell a product at the same price.
- 24. A regional group of countries that remove trade restrictions between themselves.
- 25. The amount of money a firm has to pay that remains constant regardless the number of output.
- 26. An economic system where production decisions are directed by the government.
- 34. A type of good that requires resources to be produced, thus has an opportunity cost.
- 35. A market that is dominated by only one firm.
- 37. A group of people that is considered as economically active.
- 39. The combination of two types of goods that can be produced in an economy is represented by this.
- 43. A type of product that is both non-rival and non-excludable.
- 44. Financial aid from the government to poor people and businesses in need.
- 45. A type of good that is harmful to society when consumed, but tends to be overproduced and overconsumed.
- 48. An abbreviation referring to the lowest amount of money an employer has to pay its employees.