Across
- 4. A period of negative economic growth at the trough of the trade cycle
- 7. The opportunity to produce a chosen product which results in the cost of missing out on producing another product
- 8. Typically refers to an increase in a country's output of goods and services. It is usually measured by changes in gross domestic product (GDP)
- 9. Natural resources, including farmland and fishing grounds
- 10. The purchase of capital equipment - the purchase of equipment and factories
- 12. Inputs into the production process which are made up of natural resources, labour resources, capital resources and enterprise
- 13. Good sold by businesses at a given price
- 14. used to describe an economic system where the government intervenes as little as possible and leaves the private sector to organise most economic activities through markets.
- 18. The rise in general prices and reduction in value of money
- 20. An annual announcement of the federal government's fiscal policy. The government sets out the tax changes proposed for the following tax year, and also how it plans to spend that revenue.
- 21. A type of economic system where most of the resources are owned collectively by the government and used for the common good of the people
- 22. Goods, services and capital assets sold overseas
- 23. this is the price at which buyers and sellers are willing to do a deal\
- 24. Is where a rise in a good's price encourages produces to switch to making that item but at the same time encourages customers to switch to a cheaper substitute product
- 26. us the reward for giving up use of money and is an amount paid to a lender over and above the original sum of borrowed.
Down
- 1. The quantity of good that consumers are prepared to buy at a given price
- 2. A measure of economic activity within Australia. It is the total value of all goods and services produced over a given time period (usually a year) excluding the value of imports
- 3. A type of economic system where most resources are owned by the state, but most economic decisions are made by negotiations between consumers and producers
- 5. A type of economic system where the government owns all the productive resources
- 6. The skill involved in being an entrepreneur
- 11. Manufactured resources. for example: machines, factories and offices
- 15. Focuses of this work is the monitoring of developments and events in financial markets to ensure a stability in the finances in the country
- 16. A society where resources are owned by both private individuals and the government
- 17. It is the skills an ability to take risks and create profit
- 19. The tendency of economies to move, over time, through periods of boom and slump
- 25. Goods, services and capital assets purchased from overseas