1. 1. the restructuring or transformation of a state-owned asset or organization into a corporation
  2. 5. a public good is a good that is both non-excludable and non-rivalrous
  3. 10. a market where many companies offer competing products or services that are similar, but not exactly the same
  4. 14. productivity possibility frontier
  5. 16. type of tax where it increases as your income increases
  6. 17. a situation where a person actively searches for employment but is unable to find work
  7. 19. downward slope of the business cycle
  8. 20. the process by which a piece of property or business goes from being owned by the government to being privately owned
  1. 2. sum of government spending (G), exports (X), and investments (I)
  2. 3. upward trend in the business cycle
  3. 4. policy referring to government spending
  4. 6. an organisation of workers or employees who have joined together to achieve common goals
  5. 7. measure of the distribution of income across a population
  6. 8. gross domestic product
  7. 9. policy that refers to the use tax policies to influence economic conditions
  8. 11. a market characterised by a small number of firms
  9. 12. type of tax where tax decreases proportionally to an increase in income
  10. 13. structure where a single seller assumes a dominant position in an industry
  11. 15. sum of savings (S), taxation (T), imports (M)
  12. 18. situation of those who are employed but would like to work additional hours