Across
- 3. organises the factors of production and takes risk
- 7. one of the factors of production
- 9. one of the key economic agents
- 11. one of the functions of the price mechanism
- 13. swapping one good for another without the use of money
- 14. market ... or market clearing price
- 16. the amount of a good producers are willing & able to sell at any given price over a period of time
- 17. this will shift the supply curve to the left
Down
- 1. the type of good that does not carry an opportunity cost
- 2. produces good and services to sell at a profit
- 3. when demand is greater than supply we have ... demand
- 4. production ... frontier
- 5. measures the responsiveness of one variable to a change in another
- 6. total revenue - total costs
- 8. the period of time when all factor inputs can be varied
- 10. the economics of the whole economy
- 12. a payment from government to firms to lower their costs of production
- 15. where buyers & sellers meet to exchange goods & services