Across
- 2. A system which allows private ownership of the factors of production
- 4. The study of how people use scarce resources to satisfy needs and wants
- 5. National Company A company which operates in several countries with its headquarters in the parent country. (Apple)
- 6. A system where all factors of production, distribution and consumption of goods and services are controlled by the government
- 10. Action of only doing one part of the process
- 12. market Place where goods and services are bought and sold (Coles, Seek.com, Fremantle markets) Same as Market
- 13. market Place where factors of production are bought and sold.
- 17. of production Raw materials used to make goods and services (land, labour, capital & enterprise)
- 18. Payment per hour for labour
- 19. An economy where people produce only enough goods and services for their own family
- 20. Money paid at a particular rate for the money lent
- 22. That part of earnings not spent
- 24. Organisations that make goods and services
- 26. Used to pay for goods and services
- 27. Financial assistance given to people by the Government
- 28. Payment for use of land
- 29. All resources provided by nature
- 31. Situation where demand is greater than supply
- 32. Place where goods and services are bought and sold.
- 34. Income flows which are added to the Circular Flow of Income model (investment, govt. spending, exports)
- 37. Goods and services sold overseas
- 39. Payment earned by entrepreneurs
- 40. Basic units used to make goods and services
- 41. National Company A company that operates in many countries with independent headquarters in each.(McDonalds)
- 43. Income flows that are removed from the Circular Flow model. (savings, tax, imports)
Down
- 1. Final users of goods and services to satisfy their needs and wants
- 3. A system where factors of production are owned by the government
- 4. Ability to combine all resources to make something (plan, recipe, system etc)
- 7. Compulsory government levy
- 8. Physical items used by consumer and services for a profit
- 9. Cost The cost of the next-best alternative opportunity
- 11. Where actions by one party have impacts on another, particularly economically.
- 14. Organization with authority to make decisions for the population
- 15. Goods and services which we desire but don’t need
- 16. All human effort, both physical and intellectual
- 21. An organization that sells goods
- 23. chain Complex group of firms in many countries each producing a component of a final product.
- 25. Purchase of new capital
- 30. Basic necessities for life
- 33. Handles money for households and firms
- 34. Goods and services bought from overseas
- 35. Reward for the use of resources
- 36. Equipment used to make goods and services
- 38. Actions done for consumers by producers
- 42. Payment per year for labour