Across
- 3. quantity of goods producers are willing to offer at a given price
- 5. Increase the level of output by a nation
- 8. when capacity is fixed
- 10. basic necessities to survive
- 11. The quantity of goods and services consumers are willing to buy at a given price
- 15. goods made to produce other goods
- 17. all else being equal
- 20. tax put on goods and services
Down
- 1. ‘The final goods’ purchased by households
- 2. total revenue- total costs
- 4. When total revenue is greater than total costs
- 6. the highest valued alternative that we forgo because of scarce resources.
- 7. the price at which supply and demand are the same
- 9. the responsiveness of demand to the change in price
- 12. produced by firms
- 13. when all resources are fully employed
- 14. they produce goods
- 16. A product used to produce other goods
- 18. The total amount of money a firm receives from selling goods
- 19. goods you can touch and feel