Economics

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Across
  1. 5. It is defined as employed persons who are highly skilled but are working in low-paid or low-skilled jobs or are working part-time but would prefer to be working on a full-time basis.
  2. 7. It is a government policy that takes proportionately more tax from those on higher levels of income and redistributes welfare benefits to those on lower incomes.
  3. 11. It refers to the economic problem that arises because the volume of resources (land, labour and capital) is limited compared with individual needs and wants, which are unlimited.
  4. 12. It comprises all people aged over 15 years who are able and willing to work including those who are classified as employed and those who are unemployed.
  5. 13. It is the exclusive possession or control of the supply of or trade in a commodity or service.
  6. 17. It occurs when funds are added to the circular flow from a source other than households and businesses.
  7. 19. It is a way of visually representing the distribution of income or wealth across a population.
  8. 22. It refers to individuals who might be considered unemployable because of some personal characteristic, such as a physical disability.
  9. 23. The volume of output that is produced from any given number of inputs.
Down
  1. 1. the distribution of a company's earnings to its shareholders and is determined by the company's board of directors
  2. 2. It is one of the supply factors that shifts the supply curve to the left and it refers to natural events such as floods and droughts.
  3. 3. It is a measure of how much the quantity changes when the price changes and it determines the slope of a demand curve and the slope of a supply curve.
  4. 4. It is one of the demand factors which is whether consumers are optimistic or pessimistic about their future spending
  5. 6. It is defined as a good or a service that is used in pairs such as pen and ink.
  6. 8. It is a situation in which economic forces such as supply and demand are balanced.
  7. 9. This is the skill and talent needed to combine the other three resources to successfully produce something people want to buy.
  8. 10. coefficient A number between zero and one that indicates the level of inequality in the distribution of income or wealth.
  9. 14. The value of the Australian dollar against another currency.
  10. 15. It is when a small number of large firms have all or most of the sales in an industry.
  11. 16. It describes a situation where the potential labour of employed people is not fully used
  12. 18. A system of money in general use in a particular country
  13. 20. An increase in the value of the Australian dollar
  14. 21. fixing It is an anti-competitive practice that allows companies to get together to fix and control or maintain prices artificially, and increase the prices for consumers.