the nature of the economy

2. the Reserve Bank using interest rates to achieve economic objectives
10. where the exchange of goods, services or resources between buyers and sellers occurs
12. the variety of plant and animal life in the world or in a particular habitat
15. goods and services sold by local businesses to overseas consumers
17. the cyclical fluctuations in the general level of economic activity
19. the purchasing of goods and services to satisfy needs and wants
20. of an existing business
22. levels of unemployment and sometimes falling prices

1. the point at which the demand and supply curves intersect
3. regularly putting aside some money for future use
4. states that the quantity of a good or service supplied varies directly with price
5. the process that sees people, goods, money and ideas moving around the world faster and more
6. than before
7. states that the quantity of a good or service demanded varies inversely to price
8. the swapping or exchanging of one good for another
9. process the process of creating a new or significantly improved product, service or process
11. general rise in prices across all sectors of the economy, causing money to lose its value
13. price that must be paid in order to use someone else’s money
14. in a region or country
16. a severe contraction in the level of economic activity resulting in many business failures, high and
18. either adding a new product to an existing product line, or significantly improving an existing product
20. all activities undertaken for the purpose of production, distribution and consumption of goods and
21. the use of money to purchase equipment or premises for the establishment of a new business or the