Across
- 5. Resources are allocated by supply and demand.
- 7. A sustained increase in the general price level.
- 8. Situation where resources (labour) are not fully utilized.
- 9. The amount of a good or service consumers are willing and able to buy.
- 12. A cost that does not change with output.
- 14. An organization that employs factors of production.
- 19. Goods used together.
- 20. The willingness and ability to sell a good.
- 22. Branch of economics dealing with the whole economy.
- 24. A market with only a few large firms.
- 26. The extra benefit from consuming one more unit.
- 27. Market structure with many firms selling differentiated products.
- 28. Goods that can replace each other.
- 29. A market with a single seller.
- 30. A measure of income inequality.
- 31. The stock of money and liquid assets in an economy.
Down
- 1. A period of negative economic growth for two consecutive quarters.
- 2. Tax on imports.
- 3. Government payment to producers.
- 4. The responsiveness of quantity demanded to a change in price.
- 6. The extra cost of producing one more unit.
- 10. A minimum legal price.
- 11. The study of individual markets and firms.
- 13. Goods where demand falls as income rises.
- 15. Total value of all final goods and services produced in a country in a year.
- 16. A limit on the quantity of imports.
- 17. Goods provided by the state, non-excludable and non-rival.
- 18. Cost of the next best alternative foregone.
- 21. Total revenue minus total cost.
- 23. The amount of money a firm receives from sales.
- 25. A legal maximum price.