Economics

1. the maximum output that can be produced when all resources are used fully
3. the way in which production is organised and choices are made in an economy
5. where buyers may want to buy a product but which is not always backed up by the ability to pay
11. where there is a change in ownership from the public to the private sector
13. where the quantity demanded increase as income decrease
14. a good that is thought to be undesirable for consumers and is overprovided by the market.
16. someone who does not pay to use a public good
18. recources that are available to be used
19. the means of allocating resources in a market economy
20. where it is possible to stop someone from consuming a good or service

2. where a manufacturing progress is split into a sequence of individual task
4. resource allocation decisions are taken by individual producers and consumers with no government intervention
6. one that is making quick progress towads becoming a high-income economy
7. good which is both non-excludable and non-rival
8. all the stages of a product's progress from raw materials,production and distrubution until it reaches the consumer.
9. time period when all key inputs into production are variable
10. when two goods are consumed together
12. a situation where consumers do not have full or complete information when making decisions
15. demand that is supported by the ability to pay
17. where consuption by one person of a good or service reduces the availability of the good or service for others