Across
- 5. / machinery used in the production process to produce a further advanced good.
- 7. / a situation where resources are limited in terms of meeting consumers demands (needs and wants).
- 9. / unemployment due jobs highly demanded in a certain season to a certain time of the year and industry they work in.
- 10. / what Australia buys from overseas countries.
- 13. / has and index of between 0 and 1.
- 16. / Government implemented policy controlling the tax rates.
- 18. / those considered as employed however, are not working as many hours as they would like.
- 19. / Supply factor that generally is labelled as favourable or unfavourable (having to do with the weather).
- 20. / Generally those unemployed will be receiving benefits under here.
- 22. / 2-4 (few) businesses dominating the market.
- 23. / highest point of the economic business cycle (includes inflation, high GDP and many businesses opening)
- 24. / Consumers being optimistic or pessimistic about the future of their business.
- 25. / income after one has paid back any loan/mortgage, also affected by interest rates.
- 29. / Government spending on goods and services used to help satisfy consumers needs and wants. (teachers, defense workers, etc)
- 30. employed / working in paid employment for a minimum of 12 hours per week.
- 32. / unemployed however can be working for the black economy, cash in hand. (Removed themselves from any data.
- 37. / the largest proportion of income the government receives on the revenue pie.
- 38. / products in the marketplace are exactly the same, generally found in a perfect competitive market.
- 40. / Disposable income plus indirect government benefits in the form of goods and services.
- 41. / Businesses spending on materials, plant and capital affecting aggregate demand.
- 43. / Australia purchasing overseas goods to create an even further advanced good to sell as an export.
- 44. / Demand factor that is determined by the RBA that controls how much householder with a loan have to pay back.
- 45. / The RBA controlling interest rates as a means to expand or contract the economy.
- 46. / the labour force will have no cyclical unemployment and some (minimal) natural employment.
- 48. / After an increase in population, the ____ curve will shift to the right.
- 50. tax / The more you earn the more tax you pay.
- 51. / Calculates the total assets a household has, and determines whether they need further assistance from the government.
- 53. / After the occurrence of unfavorable climatic conditions, the ___ curve will shift to the left.
- 54. / the next best thing foregone.
- 55. / private or market income plus direct cash benefits received from the government.
- 56. / naturally occurring resources used in the production of goods and services.
- 57. / lowest point of the economic business cycle (includes no inflation, low GDP and business bankruptcy.
Down
- 1. / Where both the supply and demand curve meet.
- 2. / unemployment resulting from industrial reorganisation, typically due to technological advancement.
- 3. / Part of the circular flow model that ‘leakes’ money out of the economy.
- 4. / unemployed for longer than one year.
- 6. / income after tax.
- 8. / The government’s budget if their outlays and receipts match up.
- 9. / the largest proportion of spending on the government's expenditure pie.
- 11. / a highly competitive market structure with many similarities to a perfect competition.
- 12. / Part of the circular flow model that injects’ money out of the economy.
- 14. / the unemployment due to people being in the process of moving from one job to another.
- 15. / What Australia sends to overseas countries in exchange for their contribution to aggregate demand.
- 17. employed / working more than 32 hours a week.
- 21. / Business owners and entrepreneurs being optimistic or pessimistic about the future profitability of their business.
- 26. / The government’s budget if its receipts is greater than their expenses.
- 27. / The government’s budget if their outlays are greater than their receipts.
- 28. / those unemployed for an extended period of time, can be due to those with a criminal record or a disability.
- 31. / The factor affected by consumer's spending on goods and services contributing to the aggregate demand.
- 33. / a diagram that demonstrates the choice or option available when deciding how to allocate scarce resources.
- 34. / One business dominating the market.
- 35. / unemployed due to a lack of aggregate demand.
- 36. / Where not all of the resources are not being 'utilised' efficiently.
- 39. / Those with the skills and business 'know how'.
- 42. / tax system that collects tax proportionally more for lower income earners when compared to lower income earners.
- 47. income / income collected from the government (Pension).
- 49. income / income collected for the the contribution in the production process.
- 52. / the physical and mental effort put in by human beings.