Across
- 1. the purchase of new equipment, buildings, vehicles and plants.
- 4. on capital goods and includes spending on new buildings and infrastructure.
- 6. Tools and machinery that are used to produce goods and services.
- 7. are documents certifying that a proposed building complies with the relevant building regulations.
- 10. a small number of businesses that dominates the market
- 12. when people overseas spend on goods and services that are produced in Australia.
- 16. are products that work in unity.
- 18. factors of production which include land, labour capital goods and entrepreneurship
- 19. the physical activities that people do for others that are sold and purchased
- 21. is when you sell assets such as real estate and shares that will result in large sums of money/income.
- 22. An Australian resident company is subject to company tax, which means a tax is charged on the company’s income.
- 25. is when two or more firms agree to not compete against each other but instead join together to manipulate the market.
- 27. limited
- 28. factors that make it hard for firms to start up or enter a certain industry
- 29. resource rent tax is a tax on profits typically generated from the sales made from oil and gas products.
- 30. is an annual tax based on the total taxable value of all the land you own in Victoria.
- 35. items being sold to consumers
- 37. consumers spend their income on goods and services from overseas producers/businesses.
- 39. the cost to businesses of employing labour.
- 40. Human effort into producing goods and services.
- 41. a model that is used to demonstrate how money moves through society.
- 48. are statistics that are generally used to measure economic growth.
- 49. skills and talent used to successfully produce a concept.
- 52. the process of turning resources into goods and services
- 53. the amount of an item that a business has in stock to sell
- 54. unlimited
- 56. is a tax on cars when the GST is above the threshold of 33%.
- 58. money that is typically received on a regular basis
- 59. goods and services that are necessary in order to service
- 60. is a national broad-based consumer tax on most goods and services sold or consumed in Australia.
- 61. home buyers grant, are individuals who purchase a property for the first time.
- 63. when businesses are able to set the price that they want due to high market power.
- 66. Anything from the Earth that has economic value.
- 67. when businesses are forced to take whatever price is determined by the marketplace due to little market power.
- 68. the number of customers desiring to purchase a good or service being supplied
- 72. is when a business lowers their prices to drive a competitor out of the market.
- 73. refers to the quality of life.
- 74. the responsiveness to price change.
- 75. is when you borrow money to invest.
- 76. is 2% of your taxable income, in addition to the tax you pay on your taxable income. It helps cover medical funds.
- 77. one business that dominates the market
- 78. the rates councils charge on properties in their area. Calculated by the value of the property times rate in the dollar.
Down
- 2. money paid to cover the cost of your waste and recycling services.
- 3. refers to the tax on goods and services when they are transferred across international borders.
- 5. Price of one product in comparison to another.
- 8. competition a market structure where competition is at its best
- 9. allocation of resources maximising the use of resources to satisfy the needs and wants of society.
- 11. is an alternative product.
- 13. cost when you are forgoing something to gain something.
- 14. Income after tax.
- 15. people who make goods and services
- 17. benefits tax is a tax paid by employees to help benefit themselves and their families.
- 20. is statistical data used to determine whether Australia is progressing as a nation.
- 23. expenditures on individual and collective consumption goods
- 24. when responsiveness to price change is low.
- 26. a percentage of income that is levied by the government.
- 31. refers to having access to goods and services.
- 32. the total value of all goods and services that producers are able to supply.
- 33. When consumers are optimistic about their future.
- 34. is a better measure of economic growth as it measures the value of goods and services produced in Australia, however it does not include inflation.
- 36. occurs when there are limited resources and unlimited wants
- 38. it occurs when competitors agree on pricing rather than competing against each other.
- 42. goods and services that are desired but are not necessary to survive
- 43. an oligopoly with 2 businesses
- 44. it is an illegal act in which corporations inform their rivals about price actions and intentions.
- 45. Australian Competition Consumer Commission
- 46. when banks loan money to people/businesses.
- 47. is used as an indicator of changes in well-being in Australia.
- 48. spending the government uses money collected through taxation.
- 50. when a business is optimistic about its future.
- 51. when producers allocate their resources to a point where they feel it is technically efficient.
- 55. What causes consumers to purchase more or less.
- 57. another word for customers ( people who purchase the goods and services)
- 61. is an amount of money that you may have to pay if you are believed to have broken certain laws.
- 62. tax is a self-assessed, general purpose state and territory tax assessed on wages paid or payable by an employer to its employees.
- 64. the study of how individuals, businesses and the government allocate scarce resources
- 65. rather than spending money on goods and services consumers instead store it.
- 69. using all the resources available to produce the maximum amount of wanted goods and services
- 70. is a tax levied by state or territory governments on certain purchases.
- 71. a diagram illustrating the choices or options available when deciding how to allocate scarce resources