Economics key word

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Across
  1. 11. 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.
  2. 13. The tendency of economies to move, over time, through periods of boom and slump
  3. 14. The skill involved in being an entrepreneur
  4. 15. 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. 16. Manufactured resources. for example: machines, factories and offices
  6. 17. A society where resources are owned by both private individuals and the government
  7. 18. The opportunity to produce a chosen product which results in the cost of missing out on producing another product
  8. 19. Focuses of this work is the monitoring of developments and events in financial markets to ensure a stability in the finances in the country
  9. 23. The quantity of good that consumers are prepared to buy at a given price
Down
  1. 1. It is the skills an ability to take risks and create profit
  2. 2. 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.
  3. 3. The purchase of capital equipment - the purchase of equipment and factories
  4. 4. 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
  5. 5. this is the price at which buyers and sellers are willing to do a deal\
  6. 6. 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
  7. 7. 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)
  8. 8. 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
  9. 9. Good sold by businesses at a given price
  10. 10. A period of negative economic growth at the trough of the trade cycle
  11. 12. Goods, services and capital assets sold overseas
  12. 20. Goods, services and capital assets purchased from overseas
  13. 21. A type of economic system where the government owns all the productive resources
  14. 22. Natural resources, including farmland and fishing grounds