Across
- 3. The construct which concerns individuals over a certain age who are not actively engaged in paid job or self-employment but are open to employment during the reference period.
- 4. A service or use that a customer, business, or government is willing to pay for
- 6. A discipline of economics that examines how an economy functions overall, including its composition, behavior, and decision-making.
- 7. An increase in an economy's overall price level for products and services.
- 13. growth The rise or improvement in the market value of the products an economy produces in a given fiscal year, adjusted for inflation.
- 14. A discipline of conventional economics that investigates how people and businesses behave when deciding how to distribute scarce resources and how these people and businesses interact.
- 15. The actions shown when people just base their decisions on personal preferences.
- 16. deficit A situation where a country imports more than it exports.
- 17. An economic strategy intended to increase exports while reducing imports in a given economy.
- 19. of trade The difference in currency terms between a country's exports and imports over a specific time period.
- 21. The quantity of a resource that businesses, producers, workers, financial asset providers, or other economic agents are willing and able to offer to the market or to a particular customer.
- 24. The person acting as a coordinator in a capitalist society. They shift different resources, both material and immaterial, to encourage capital formation.
Down
- 1. The commitment of funds to the acquisition of an asset with the hope that its value would rise over time.
- 2. of payments The difference between all of the country's financial inflow over a specific time period and its financial outflow to other countries.
- 5. economics The branch of economic theory that emerged in the late 18th and early 19th centuries, particularly in Britain. It promoted laissez-faire principles and the notion of free competition, focusing on economic expansion and economic freedom.
- 8. The effort put forth to generate commodities and services in an economy on a physical, intellectual, and social level.
- 9. surplus An economic indicator of a favorable trade balance, where an exporting nation's exports outpace its imports.
- 10. Products that meet human needs and are useful
- 11. The amount of a good that buyers are willing and able to buy at different prices during a specific period of time.
- 12. The economic strategy of limiting imports from other nations using tools like import taxes, import quotas, and various other government laws.
- 18. When an item or service is in more demand than offered, the supply is insufficient to meet demand.
- 20. What inputs—goods and services—are employed in the manufacturing process to produce output.
- 22. The monetary amount that one party pays or receives from another in exchange for goods or services.
- 23. Something that makes production more efficient, effective, or affordable.