Across
- 3. someone who works in an industrial job,often in manufacturing,who receives wages
- 4. amount of an item produced for sale
- 5. machinery,equipment and money used for production
- 6. a social science that examines how people choose among the alternatives available to them
- 7. branch of economics that focuses on choices made consumers and firms and their impact on individual markets
- 12. situation in which all factors of production available for use under current market conditions are being fully utilised
- 13. goods and services sold to other countries
- 14. a persistent,substantial rise in general level of prices,sometimes due to money growth
- 16. a term used to describe the self regulating nature of the marketplace(the word starts with the letter i)
- 19. an assertion of a relationship between 2 or more variables that could be proven to be false
- 20. limited resources are not enough to satisfy human wants
- 21. sole legal right to sell good,service or artistic work
- 22. the satisfaction that people derive from consuming goods and services
Down
- 1. the socio-economic goal concerned with fairness in distribution of goods
- 2. revenue of a company minus the expenses
- 4. situation in which an economy is producing only those services in which it has comparative advantage
- 5. contest between companies to win more business
- 8. a latin phrase that means "all other things unchanged"
- 9. a person,who,operating within the context of economy,seeks to earn profits by finding new ways to organise factors of production
- 10. share in profits accrue on the basis of _______
- 11. solution to barter system
- 15. to announce in some public medium to induce people to buy or use product
- 17. price to be paid to acquire,produce,accomplish or maintain anything
- 18. something whose value can change