Across
- 3. An economy where resources are allocated (mostly) by the market mechanism
- 5. A renewable resource that is being consumed so that it will not run out
- 10. Goods are exchanged for other goods, as opposed to using cash
- 12. The amount of a good purchased at a given price in a given time period
- 13. The potential of not having basic necessities, like healthcare.
- 16. Sharing out in a given way
- 17. State/Government Sector
- 18. Money received in exchange for labour, goods or services
- 19. Values that are not adjusted for inflation
- 21. The factor of production that includes all natural resources
- 22. The benefits lost when not consuming the next best alternative
- 24. Producing a specific good/service and trading the surplus amounts
- 25. Resources that are not scarce, and have no opportunity cost
- 28. Goods that can be used in place of the other, for example, pepsi and coca-cola
Down
- 1. Any convenient set of arrangements by which buyers and sellers communicate to exchange goods/services
- 2. An economy where resources are allocated (mostly) by the government/state
- 4. Someone who seeks out profitable opportunities and tries to exploit them
- 6. Goods that can be used and will be replaced
- 7. An increase in an economy's output
- 8. Goods that may be consumed together
- 9. The idea that the worlds resources are finite
- 11. Goods that are used to manufacture more goods/services, such as factories, machinery, etc.
- 14. Use of research and development to create new products, or improve old ones
- 15. The sector of the economy where raw materials are used to create goods/services
- 20. The difference between the price paid for a good/service, and the price the consumer was prepared to pay
- 23. Figures that have been adjusted for Inflation
- 26. The value that is usually known as 100, and used to compare with other values
- 27. The benefit gained from consuming a good/service