Across
- 3. A long-term loan for the purchase of property
- 7. A charge applied to a loan as a percentage of the amount borrowed. It is the cost of borrowing money.
- 8. ______ good; A good for which the choice of one use does not require that another be given up.
- 9. the total of bank deposits and notes and coins in an economy.
- 11. ______economy that combine elements of market capitalist and of command socialist economic systems.
- 13. Term used to describe an organisation, such as a bank or credit union, that brings together customers who want to save money and others who wish to borrow it.
- 14. the main bank in an economy responsible for managing the stability of the national currency and the money supply.
- 15. also known as clearing banks, theses banks provide financial services to many individuals and businesses via the internet and through retail branches located in many towns and cities.
- 16. A function of money that is eroded when there is high or rapidly rising inflation in an economy
Down
- 1. a cap or ceiling on the price firms are allowed to charge consumers for their products in a market regulated by a government.
- 2. Trading or swapping goods and services without money. This form of exchange requires a double coincidence of wants
- 4. The value of the best alternative forgone in making any choice.
- 5. A good money must be acceptable to fulfil this function.
- 6. the transfer of public sector organisations and activity to private firms
- 10. consumption of these type of goods is unhealthy for those use them because of the negative impacts it has on others
- 12. A price floor set by a government in a regulated market e.g: to reduce over consumption of an undesirable product by raising its market price.