Economics

5. The economic situation defined by an inefficient distribution of goods and services in the free market.
7. Rewards or penalties that influence individuals, organisations, etc. to make decisions and take actions based on market forces.
8. An economic concept used to measure the change in the aggregate quantity demanded/ supplied of a good or service in relation to price movements of that good or service.
9. The branch of economics that deals with the performance, behaviour, and decision-making of the international , or aggregate, economy.
10. A situation where prices across the economy are rising, but more slowly than before, E.g. a fall in the annual inflation rate from 10% to 5%. It is often confused with deflation.
11. A tax or duty to be paid on a particular class of imports or exports.

1. Regular payment made by the government to people above the official retirement age and to some widows and disabled people.
2. Physical assets a company uses to produce goods and services for consumers.
3. An organised association of workers in a trade, group of trades, or profession, formed to protect and further their rights and interests.
4. A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
6. The policy under which the government uses taxation, public spending and public borrowing to achieve the many objectives of the economic policy.