Economics

2. When consumption of a good or service by one person does not diminish possible consumption by someone else
4. A tax on the consumption of a good or service, such as a Value Added Tax or a Sales Tax
10. A place where money is borrowed and lent, such as a bank, a bond market and a stock market
11. The cost to society in general of production of a good or service
12. When it is possible to exclude people who have not paid from consuming a good or service
13. A simplification of reality used to make an economic model
14. When a resource exists in a limited amount
15. When a price rises or fall this impacts the number of consumers willing and able to buy a good or service
16. Central bank policy about interest rates, the money supply and exchange rates
17. A grant given by the government to a private firm in order to increase production and lower the price of the a good or service
18. Money inserted into the circular flow; Government spending, Investment, Export earning
19. The level of satisfaction a consumer gains from consuming a product

1. When the free market price mechanism leads to a negative outcome for society in general
3. A decrease in the general price level of all goods and services in an economy
5. A country that is between a free market and command economy
6. Money taken out of the circular flow; Taxes, Savings, Import spending
7. Laws put in place by government to control the actions of private firms and consumers
8. When the rate of inflation slows down
9. The total debt owed by government
12. The side effects of consumption or production that impact third parties