Economics crossword

1. It is the responsiveness of the quantity supplied to a change in price
3. It is the quantity of a good or service that consumers are willing and able to buy at any price and at any time
4. In a _____ market, resources are allocated by the price mechanism, or supply and demand
6. In a labour market, the supply of labour is from _________
11. A place where buyers and sellers meet
14. ________ income measures the monetary value of the flow of output of goods and services
15. It is the quantity of a good or service that firms are willing and able to produce at any price and at any time
17. It is the responsiveness of the quantity demanded to a change in income

1. It measures the responsiveness of the quantity demanded of a product to a change in its own price
2. Consumer surplus is a measure of the _______ that people gain from consuming goods and services
5. It occurs when real national output is rising at a rate faster than the trend rate of growth
7. It is a payment by the government to firms so that it reduces their costs of production and therefore encourages them to produce more
8. All goods and services that have a price
9. A tax that is the percentage of the price of a good.
10. In a market for goods and services, supply is from _____
12. C+I+G+(X-M) is ___
13. It is an imposed expenditure by the government.
16. It shows of two or more goods and services that can be produced using all resources