Across
- 4. The ability to carry out an economic activity more efficiently than another.
- 6. What should be produced? How things should be produced? Who should things be produced for?
- 7. Sustained and environmentally-friendly growth.
- 8. Firms increase prices when their costs rise.
- 12. Adjusted for inflation.
- 13. ”All other things being equal”
- 14. Another word for raw materials.
Down
- 1. Central economic problem.
- 2. When market isn’t at social optimum.
- 3. The second best choice foregone whilst making a choice.
- 4. Imports exceeds exports in a country.
- 5. Difference between the market price the firms receive and the price at which they are willing to supply.
- 9. A situation in which profit of one party cannot be increased without reducing the profit of another.
- 10. Rewards from factors of production
- 11. Different way of saying “per head’’.
- 15. Category that corporate tax fits into.