Across
- 4. When the demand of our resources is greater than the supply of that resources as resources are limited
- 6. the money that a person or entity receives in exchange for their labor or products
- 8. a type of market structure where two or more firms have significant market power
- 10. a business cycle contraction when there is a general decline in economic activity
- 15. someone who is currently employed, but who would like and is available to work additional hours
- 17. a basic economic concept that describes a voluntary exchange between several parties
- 20. an area of the production, distribution and trade, as well as consumption of goods and services
- 22. the condition of one who is capable of working, actively seeking work, but unable to find any work
- 23. a acronym of a regional trade and economic development initiative. This agreement is among 21 countries
- 24. When the resources are inefficiently used or not being used to its full potential
- 28. a period of strong economic expansion where many businesses are operating at full capacity or above capacity
- 29. the total amount of a specific good or service that is available to consumers
- 31. the costs or value of the next best option "forgone"
Down
- 1. type of unemployment where individuals have been jobless for a long time
- 2. type of unemployment meaning a lack of Ad, which is a Demand side factor
- 3. type of unemployment which means discouraged job seekers who are no longer actively seeking work
- 5. type of resource that workers use to produce the goods and services like machinery, tools and equipment
- 7. A situation where there is a single seller, selling a unique product in the market
- 9. the cost of borrowing money
- 11. the value of a nation's currency in terms of the currency of another nation or economic zone
- 12. the body of persons that constitutes the governing authority of a political unit or organization
- 13. type of change in factors affecting supply other than the price of the commodity which swifts the supply curve to the left
- 14. the rise in the number of unemployed people that is expected in certain industries at particular times of year
- 16. the efficiency of production of goods or services expressed by some measure
- 18. a acronym total market value of the goods and services produced by a country's economy during a specified period of time
- 19. A request for something
- 21. type of living standards which refers to our access to goods and services like health coverage and etc
- 25. a sum of money demanded by a government for its support or for specific facilities or services
- 26. people aged over 15 years who are able and willing to work. This includes people who are classified as employed & unemployed
- 27. when both suppliers and buyers are happy and satisfied with the price and is equally disputed
- 30. when people are optimistic are their economic wellbeing future