Across
- 4. A product whose demand increases when income increases and decreases when income falls.
- 7. Human-made goods used in production.
- 8. State instructions given to state-owned enterprises.
- 10. The addition of individual components to arrive at a total amount.
Down
- 1. Someone who consumes a good or service without paying for it.
- 2. Those who undertake economic activities and make economic decisions.
- 3. A payment to the government.
- 5. the level of output where social cost equals social benefit and society's welfare is maximised.
- 6. The sale of public sector assets to the private sector.
- 9. Goods and services are produced by the factors of production.