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