Across
- 1. not fully utilising resources (in terms of labour)
- 3. how optimistic or pessimistic businesses are in regards to their spending and investments
- 5. measures the value of final goods and services produced in Australia at current prices
- 6. a form of employment where a person's skills are not being fully utilised in their position or job
- 9. A market structure where there are a few businesses that dominate the market that also set prices and producer sovereignty
- 10. characterised by inflation, high employment and incomes, high consumer confidence, decreased government spending
- 11. a business whereby the owner licences its operations—along with its products, branding, and knowledge—in exchange for a franchise fee
- 12. a larger form of unemployment that occurs due to aggregate supply and is always occuring
- 13. The people that are not counted or considered in employment statistics.
- 16. characterised by two negative GDP growths, deflation, high unemployment, and increased government spending
- 17. a situation in which someone chooses not to work, either because they will not take a job with low pay, or they are satisfied with the amount they receive from the government in benefits while not working.
- 18. increased deflation, a decrease in GDP, higher unemployment, and some business bankruptcies
- 20. they promote competition and fair trading and regulates national infrastructure to make markets work for everyone.
- 23. This form of unemployment refers to unemployment via industrial reorganisation, typically due to technological change.
- 25. goods that are utilised by the customer jointly and are useless when used alone
- 27. occurs among individuals who have been without a job for a relatively long time, usually due to disability or criminal records.
- 33. a market where essentially infinite businesses compete within a market and adheres to the supply and demand of consumers and suppliers
- 34. a natural form of unemployment that occurs due to a lack of aggregate demand (AD), and continually fluctuates as a business cycle does.
- 37. the purchase of equipment, machinery and inventory (capital goods and services, and spending)
- 39. an economic cycle which refers to economic fluctuations between periods of expansion and contraction and apexing at peaks and recessions
- 42. the total amount of a given product or service a supplier offers to consumers at a given period and a given price level
- 44. a global marketplace for exchanging national currencies
- 46. a increase in the general price level of goods and services in an economy due to greater demand than supply
- 49. the mean of all wages earned by employees over a 7 day period
- 50. a deterrent placed by the government on specific goods and services like cigarettes, alcohol, or fuel/patrol
- 51. the percentages that indicate how much extra money a householder that is paying a loan with interest needs to pay back when you borrow money or how much you earn when you save or invest money
- 54. regarded by the customer to be the same, such that they may be used in place of one another and deliver the same amount of satisfaction.
- 55. goods and services purchased by Australia that are manufactured overseas
- 57. characterised by some inflation, decreasing unemployment rates, and increases in GDP
- 58. occurs when the economy is consistently growing between 3-3.5%
- 59. the unemployment which exists due to people being in the process from moving one job to another, or in between jobs.
Down
- 1. Those people who are actively looking for work but cannot find it
- 2. Spendable income after receiving government support and paying personal income tax, available to spend on whatever one wishes.
- 4. when people are unemployed at particular times (seasons) of the year when demand for labour is lower than usual.
- 7. materials or substances used in the primary production or manufacturing of goods
- 8. all persons aged 15 years and above who are able and willing to work. It includes those persons classified as as employed and those who are unemployed
- 14. the percentage of the labour force over that of the poulation
- 15. a market structure where one business dominates the consumer market and prices are set by the business because there is no competition
- 19. the percentages at which your income or certain transactions are taxed by the government.
- 21. What homeowners are spending on final products that aren’t investments (an increase can occur via a promotion/wage increase or a decrease in tax rates). It comprises approximately 60% of AD in Australia.
- 22. the ratio from inputs to outputs. Inputs can be either material goods or factors of production (capital and labour) used to produce goods and services
- 24. relates to a consumer's desire to purchase goods and services and willingness to pay a specific price for them
- 26. the increase in the number of people living in a specific area over a certain period of time.
- 28. goods and services that are made in Australia and purchased by foreign residents
- 29. the money you set aside from your income instead of spending it immediately. It's usually kept in a bank or other financial institution to use for future needs or goals.
- 30. A product in the market can be affected by its ability to produce
- 31. the largest portion of tax that goes to the government; imposed on income
- 32. the living standards/non-material living standards
- 35. among individuals who have been without a job for a relatively long time, usually due to disability or criminal records.
- 36. is the better measure of GDP an inflation-adjusted measure that reflects the value of all goods and service
- 38. Rate The price or value of our currency when swapped for other currencies.
- 40. a decrease in the general price level of goods and services in an economy due to lesser demand then supply
- 41. money you earn from various sources, such as your job, investments, or business activities. It's the total amount of money coming in before any expenses or taxes are deducted.
- 43. defined as being without paid work and/or have been looking for working, for a year or more.
- 45. having a job or being engaged in work for which you receive payment or compensation.
- 47. a form of measuring how many goods and services people purchase over a given time period (usually measured monthly, quarterly, or annually). It suggests that as the price falls, demand increases, and vice versa.
- 48. how optimistic or pessimistic consumers are in regards to their spending and purchases
- 52. a tax imposed by one country on the goods and services imported from another country
- 53. When the maximum level of employment is achieved without triggering excessive inflationary pressures, or when cyclical unemployment is at 0% and the unemployment rate is at the NAIRU of 4.25%. Any statistics under or above the NAIRU of 4.25% is not reaching the goal as it triggers excessive inflationary pressures.
- 56. a tax charged on corporate income in Australia