Across
- 3. Also known as 'producers', they produce goods and services to sell.
- 4. How the government raises money to pay for government services.
- 5. Something not necessary for life, but nice to have.
- 7. How we allocate limited resources to satisfy unlimited wants.
- 9. A product you purchase that can be physically held, seen and possessed.
- 10. The ________ Flow model shows the interaction between sectors in the economy.
- 11. Also known as 'consumers', purchase goods and services to consume them.
- 12. A product that can be purchased which is an action somebody performs for you.
Down
- 1. Occurs whenever buyers and sellers exchange goods and services.
- 2. Also known as 'goods and services tax', the government charges this tax of 10% on all purchases in Australia.
- 3. This sector includes banks and collects savings to invest in businesses.
- 6. Something necessary for life.
- 8. Also known as the 'international sector', this includes imports and exports.