Economics Key Terms

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Across
  1. 2. The value of all exports minus imports (7-2-5)
  2. 5. A field of study that seeks to incorporate the insights of psychology into economics (11-9)
  3. 7. The manipulation of the level and composition of federal government receipts and outlays in order to assist in the achievement of its economic and social goals of Australia (9-6)
  4. 8. When government revenue is less than government expenses (6-7)
  5. 9. When government revenue exceeds government expenses (6-7)
  6. 11. The total value of goods and services available for sale in an economy (8-6)
  7. 13. The continuing willingness of consumers to purchase and repurchase p[articular brands of goods or services (5-7)
  8. 14. The amount of income consumers have at their disposal to spend on goods and services. ITS NOT DISPOSABLE INCOME! (6-10)
Down
  1. 1. A ratio between benefits and costs (7-2-4-5)
  2. 3. A type of efficiency to measure how well resources are being allocated in an economy (10-10)
  3. 4. When a country is more efficient than another in producing all goods and services with the same inputs (8-8)
  4. 6. Factors making it difficult to commence operations/enter an industry (8-2-5)
  5. 10. Total expenditure of goods and services (8-6)
  6. 12. Legal documents establishing minimum wages and conditions applying to various occupations