Economics

3. an economic system in which deprivation occurs (7,4)
4. Produces a negative externality(7,4)
7. The reward for Capital (8)
9. How well an economy is using available resources and technology during production (3)
10. Everything else remains the same (7,7)
12. A certain percentage of profits given out to the shareholders of a company (8)
13. CEO of Shopee (5,4)
16. finds value only in scarce commodities (9)
18. Causes a shift in the demand curve (6,2,10)
20. One of the most common market failures (8,13)
21. when two firms dominate the market (7)
22. Excess in supply (8)

1. The rate of increase in price over time (9)
2. The PED coefficient is almost always… (8)
5. the value of the shares which are issued by a company. (6)
6. The name of a severe worldwide economic depression that happened during the 1930s after a stock market crash(3,5,10)
8. A period of temporary economic decline where the trade and industrial activity are reduced, this is generally identified by a fall in GDP (9)
11. When supply outweighs demand (7)
14. The growing independence of the world’s economies, cultures and populations (12)
15. value of currency expressed in the number of good/services money can buy (10,5)
17. - A Term used by the Apple co-founder Steve Jobs to describe an imcompetent employee who could damage a competent company. Jobs recommended hiring “A” players and avoiding “B” players as they would bring in “C” players to make themselves look better, leading to a “explosion”. (4)
19. A product/service that can only be possessed by a single user (5)