Economics

1. The total supply of goods and services available to a particular market from producers
7. Government decisions about taxation and spending to influence the economy
10. When the percentage change in quantity demanded or supplied is exactly equal to the percentage change in price
12. The theory that consumers determine what goods and services are produced

2. The market where new securities are sold to the public for the first time
3. A phase in the business cycle where economic activity increases, often involving an increase in supply
4. The natural rise and fall of economic growth that occurs over time
5. A stock market index that measures the performance of the Australian stock market
6. A condition where an individual’s income is insufficient to meet basic needs such as food and shelter
8. The cost of the next best alternative foregone when a decision is made
9. The cost of borrowing money, typically expressed as a percentage
11. The quantity of a good or service that consumers are willing and able to purchase at a given price