Economics

2. the collection of firms involved in making a similar range of items that usually compete with each other
4. the integration between different countries and economies
6. a situation in which individual firms have implicitly or explicitly agreed to restrict competition
7. government selling pte's to the private sector
9. the ease with which a financial asset can be transformed into cash so it can be used as a medium of exchange
11. situation of firms agreeing to restrict competition
12. the total market value of all final goods and services produced in an economy over a period of time
14. the wear and tear that all capital goods experience, causing their decrease in value over time
17. a good that is used in conjunction with another good
20. any current expenditure where the benefits will be obtained in the future
21. Australia's central bank

1. the tool of the government for the exercise of fiscal policy
3. a type of financial asset that provides an individual with ownership over part of a business or company
5. the sustained increase in the general level of prices over a period of time, usually one year. Usually measured by a percentage change in the Consumer Price Index
8. the process whereby unemployment in the current period results in the persistence of unemployment in future periods as unemployed people can lose their skills, job contacts and motivation to work
10. the satisfaction or pleasure that individuals derive from the consumption of goods or services
12. a 10 per cent sales tax imposed on most goods and services in Australia
13. the amount of money, or other benefits measured in monetary terms, that flows to individuals or households, usually for their contribution to the production process or as a direct payment from the government over a period of time
15. the reward to the factor of production capital for its use in the production of goods and services
16. the medium of exchange in most modern economies
18. a fun economics-themed board game, also used to describe an industry where there is only one seller producing a unique product
19. items that remove money from the circular flow of income