Economics

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Across
  1. 2. a reference to spending.(11)
  2. 3. the ability of a firm to profitably raise the market price of a good or service over marginal cost.(6,5)
  3. 4. putting all resources to their maximum use to satisfy the needs & wellbeings of society (10,10)
  4. 10. refers to an increase in the size of a country's economy over a period of time.(8,6)
  5. 11. cost.(5)
  6. 12. the forgone benefit that would have been derived by an option not chosen (11,4)
  7. 14. a structure in which many firms offer products or services that are similar, but not perfect substitutes.(12,11)
  8. 16. buildings or machinery which are necessary to produce goods or to make companies more efficient.(7)
  9. 17. a market structure characterized by a single seller, selling a unique product in the market. (7)
  10. 20. a market structure with a small number of firms, none of which can keep the others from having significant influence.(9)
  11. 24. rivals. (11)
  12. 27. A producer who has enough market power to influence prices.(5,5)
  13. 30. perfect substitutes and buyers perceive no actual or real differences between the products(11,8)
Down
  1. 1. a service or other asset used to produce goods and services that meet human needs and wants (9)
  2. 5. the factor of production that organises the other factors of production into a production unit to produce a good/service.(10)
  3. 6. unlimited (8)
  4. 7. what makes your product or service stand out to your target audience.(7,14)
  5. 8. A producer who has no power to influence prices.(5,5)
  6. 9. is an ideal type of market structure where all producers and consumers have full and symmetric information.(7,11)
  7. 13. limited (6)
  8. 15. will typically have very high fixed costs meaning that it is impractical to have more than one firm producing the good.(7,8)
  9. 18. production possibility curve(Abr)
  10. 19. a person who purchases goods and services for personal use.(9)
  11. 21. effort that people contribute to the production of goods and services.(6)
  12. 22. the resource that encompasses the natural resources used in production.(4)
  13. 23. companies who sell something.(7)
  14. 25. depicts how firms are differentiated and categorised.(6,9)
  15. 26. lack of or in short supply; shortage (8)
  16. 28. a place where buyers & sellers can gather to facilitate the exchange of goods and services.(6)
  17. 29. an area of the production, distribution and trade, as well as consumption of goods and services.(7)