Across
- 2. the factors of production a country has available to produce goods and services
- 3. an example of supply-side policy
- 5. decision-making by relatively large-scale units or by groups of individuals
- 9. the use of government spending and income taxrates to achieve certain macroeconomic aims
- 10. a situation where there is only one firm in a market
- 15. the willingness and ability to buy a product at a given price at a given period of time
- 17. the cost of borrowing money
- 20. the sector in which workers are employed in the first stage of the production process, such as farming
- 23. a situation in which an individual does not have enough income to satisfy their most basic needs
- 24. a year which is allocated a value of 100 index points against which other years are compared
- 25. the factor reward for enterprise
- 26. a sustained period of negative GDP in the economy over time
- 27. resources derived from mother nature
- 28. brings all the other factors together to produce a good or service
- 29. a measure of human development and well being that takes into account the three dimensions of living standards, health and education
- 30. a tax levied on a firm's profit
- 34. are those people who are able and willing to buy products
- 36. the objective of remaining in business
- 37. the process whereby individuals, firms and economies concentrate on producing those products in which they have an advantage
- 38. the supply of products exceeds the demand for the products
- 39. the act of trading goods and services between two or more parties without the use of money
Down
- 1. a type of merger when two or more firms at the same stage of production join together
- 4. the state of being without paid work but willing and able to work if a job becomes available
- 6. the total value of all final goods and services produced within a country over a year
- 7. a tax system that takes a higher proportion ofincome from the rich than the poor
- 8. an association of workers formed to protect and promote the interests of its member
- 11. products that are possible alternatives to each other
- 12. a plan of government's future income and expected spending over a period of time
- 13. the inflationary cycle of higher wages
- 14. a price established in a market below the equilibrium price
- 16. the bank responsible for supervising and regulating the banking and financial system in a country
- 18. the transfer of ownership from the government to the private sector
- 19. the change in the value of the goods and services, produced within a country over time
- 21. the quantity of money in circulation in the economy
- 22. a good with potentially harmful effects but which is overconsumed and overproduced as a result of information failure
- 31. the cost incurred by firms in changing their prices during inflation
- 32. the cost of producing a unit
- 33. all individuals of working age who are either employed or unemployed
- 34. a measure of unemployment that is calculated by counting all individuals who receive an unemployment benefit
- 35. a payment made to producers by a government to keep down the cost of production