Grade 10 Economics Revision

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Across
  1. 4. Unintended side effects of production or consumption that affect third parties.
  2. 6. A measure of the responsiveness of quantity demanded or supplied to a change in price or income.
  3. 10. A market structure with many firms selling differentiated products.
  4. 11. Goods that can be used in place of one another.
  5. 16. A market structure characterized by many buyers and sellers, homogeneous products, and free entry and exit.
  6. 18. A market structure with a single seller of a unique product.
  7. 19. The next best alternative forgone when making a choice.
  8. 21. Situations where the free market fails to allocate resources efficiently.
  9. 22. A market structure dominated by a few large firms.
  10. 24. An economic system where the government makes most economic decisions.
  11. 26. A state where quantity demanded does not equal quantity supplied.
Down
  1. 1. Anything generally accepted in payment for goods and services.
  2. 2. A type of market failure where different prices are charged for the same good or service.
  3. 3. Measures how the demand for one good changes in response to a change in the price of another good.
  4. 5. The fundamental economic problem of unlimited wants and limited resources.
  5. 7. A graph showing the maximum combinations of two goods that can be produced with given resources and technology.
  6. 8. A function of money; allows goods and services to be traded without bartering.
  7. 9. A factor affecting demand; the amount of money people earn.
  8. 12. An economic system based on customs and beliefs.
  9. 13. Exchanging goods or services directly without the use of money.
  10. 14. Goods that are typically consumed together.
  11. 15. The point where quantity demanded equals quantity supplied.
  12. 17. Cost advantages experienced by firms when they increase their level of production.
  13. 20. The quantity of a good or service that producers are willing and able to offer for sale at various prices.
  14. 23. The part of the economy dealing with money, credit, and banking.
  15. 25. The quantity of a good or service that consumers are willing and able to purchase at various prices.