Across
- 3. A number between zero and one that indicates the level of inequality in the distribution of income or wealth.
- 9. costs of borrowing.
- 12. It is a way of visually representing the distribution of income or wealth across a population.
- 15. Spending on goods and services within the period.
- 18. It describes a situation where the potential labour of employed people is not fully used
- 20. 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.
- 21. It is a situation in which economic forces such as supply and demand are balanced.
- 26. It refers to individuals who might be considered unemployable because of some personal characteristic, such as a physical disability.
- 28. 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.
- 29. 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.
- 30. This is the skill and talent needed to combine the other three resources to successfully produce something people want to buy.
Down
- 1. The volume of output that is produced from any given number of inputs.
- 2. The factors that affect a person's quality of life irrespective of income.
- 4. 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.
- 5. Spending by government departments and public enterprises on goods and services within the period.
- 6. 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.
- 7. An increase in the value of the Australian dollar
- 8. 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.
- 10. It is when a small number of large firms have all or most of the sales in an industry.
- 11. a sustained period of weak or negative growth in real GDP (output) that is accompanied by a significant rise in the unemployment rate
- 13. It is the exclusive possession or control of the supply of or trade in a commodity or service.
- 14. 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.
- 16. A system of money in general use in a particular country
- 17. It measures peoples’ access to goods and service
- 19. It is one of the demand factors which is whether consumers are optimistic or pessimistic about their future spending
- 22. X in aggregate demand formula and income earnt by Australians selling goods overseas.
- 23. The value of the Australian dollar against another currency.
- 24. It is defined as a good or a service that is used in pairs such as pen and ink.
- 25. It occurs when funds are added to the circular flow from a source other than households and businesses.
- 27. the distribution of a company's earnings to its shareholders and is determined by the company's board of directors