Across
- 1. a measure of the responsiveness of the quantity supplied to a change in price
- 4. products which the government considered consumers don’t fully appreciate how beneficial they are and they are under-consumed
- 7. when the revenue will decrease, when PED is elastic or inelastic
- 8. if we have close substitutes the PED will increase or decrease?
Down
- 2. risk bearing and key decisions taking
- 3. the total costs to a society of an economic activity
- 5. not enough resources for satisfying people’s wants
- 6. part of economy controlled by the state
- 9. costs posed on those who are not involved in consumption or production