Across
- 2. The interaction and integration between businesses, governments and people of different countries as they become open to foreign investment and international trade.
- 3. The quantity of goods and services that can be produced by one worker or by one hour of work.
- 6. The purchase by an individual or firm of financial securities, such as shares or bonds, issued in another country.
- 7. A theory of long-run economic growth that emphasises that technological change is influenced by economic incentives, and so is determined by the working of the market system. Developed by economist Paul Romer.
- 9. The exclusive right to a product for a period of time from the date the product was invented.
- 11. A tax imposed by the government on imported goods.
- 12. The accumulated knowledge and skills workers acquire from education and training or from their life experiences.
Down
- 1. The ownership of, or controlling interest in, assets such as factories, businesses or farms in a foreign country.
- 4. The change in the ability of a firm to produce output with a given quantity of inputs.
- 5. The rights individuals or businesses have to the exclusive use of their property, including the right to buy or sell it.
- 8. The prediction that the level of GDP per capita (or income per capita) in poor countries will grow faster than in rich countries.
- 10. The legal right of the creator of a book, movie, piece of music or software to the exclusive right to use the creation during the creator’s lifetime, plus an additional period of time for their heirs.