1. 2. two quarters of negative economic growth in a row.
  2. 5. the way the decisions made by households and firms interact to decide the allocation of resources.
  3. 8. government actions or policies to restrict international trade.
  4. 10. household income over a period of time including state benefits, less direct taxes.
  5. 13. unemployment caused by long term changes in the pattern of demand and production of an industry.
  6. 14. a fall in the rate of inflation.
  7. 16. when government intervention leads to a net welfare loss compared to the free market solution.
  8. 17. a loan to help buy a house.
  9. 19. where resources are inefficiently allocated due to imperfections in the working of the market mechanism.
  10. 20. people aged below school leaving age and above the retirement age of the country.
  1. 1. a person or organization that receives benefits that others have paid for without making any contributions.
  2. 3. total expenditure by households on goods and services over a period of time.
  3. 4. addition to an existing course of plan.
  4. 6. buying or selling something in the expectation of a future price change and a profit.
  5. 7. efficiency occurring over time as a result of investment and innovations.
  6. 9. the study of economy as a whole.
  7. 11. the cost incurred to or the benefit received to the third party from an economic activity.
  8. 12. large increases in the price level.
  9. 15. when a firm splits into two or more independent businesses.
  10. 18. the process of removing government controls from markets.