Week 2 Economics

4. The cost of __________ includes the cost of all inputs to create a product.
8. A type of firm which specialises in selling products directly to consumers (e.g., Kmart).
11. Structures the government builds to support households and firms (e.g., roads, railways and ports).
13. Firms might place ______________ on the internet or television when they want consumers to know about their brand.
14. __________ income, the amount of money households have left over after taxes to spend on needs and wants.

1. Firms that make goods on a large scale and sells these on to retailers.
2. ___________ Retail Price (RRP), the price a manufacturer suggests retailers use.
3. A government program designed to provide fixed income or necessities to people in need.
5. A government policy which allows people from other countries to move to Australia.
6. The income firms make when they subtract costs from revenue.
7. The sector of the economy which purchases goods and services from firms.
9. The Law of ______ states that as price decreases, the amount consumers will purchase increases.
10. An hourly rate households are paid in exchange for providing labour to firms.
12. The Demand _____ is a type of graph which shows the quantity consumers demand of a good at any given price.