Across
- 2. A state of having inadequate income or other resources to support a household or group of households at a basic standard of living.
- 4. It refers to the system where the forces of demand and supply determine the prices of commodities and the changes therein.
- 6. The marginal utility of a good say X is defined to be the amount of additional utility derived from the consumption of an additional unit of X while keeping the quantity of the other good say Y as constant.
- 8. What is called a fall in the average level of prices over time?
- 11. It is the loss of economic efficiency in terms of utility for consumers/producers such that the optimal or allocative efficiency is not achieved.
- 12. In some industries, economies of scale are so strong that it makes most economic sense for there to be only one supplier.
- 14. A situation when increased interest rates lead to a reduction in private investment spending such that it dampens the initial increase of total investment spending
- 15. Costs that change according to the number of items produced or the amount of service performed.
- 17. A condition in which the total real GDP of an economy shrinks (usually, for at least
Down
- 1. what describes a market structure where competition is at its greatest possible level.
- 3. is a graph showing combination of two goods that give the consumer equal satisfaction and utility.
- 5. An ongoing rise in the average level of absolute prices.
- 7. what is an occasionally used monetary policy, which is adopted by the government to increase money supply in the economy in order to further increase lending by commercial banks and spending by consumers.
- 9. The ratio of the average price of a country’s exports, to the average price of its imports, is
- 10. The spending and taxing activities of government constitute is termed as?
- 13. is defined as the difference between the amount the producer is willing to supply goods for and the actual amount received by him when he makes the trade.
- 16. consecutive quarters).