Across
- 3. The study of how individuals, firms, nations and governments use their scarce resources to satisfy their unlimited wants
- 4. Funds or monies paid to the government of a country by both the household and firm
- 6. This approach in measuring GDP focuses on payments made to rewards of factors of production
- 8. __________________consumption is the minimum level of consumption or spending
- 10. This studies problems, issues, theories and concepts affecting the entire economy
- 12. This measures the total value of output in an economy.
- 13. The portion of disposable income that is not spent.
- 15. This type of investment is done to increase a company’s capital stock.
- 16. These represents the expenditure of foreign consumers on local products
Down
- 1. These depict money coming into the circular flow of income.
- 2. Income tax is a popular example of this type of tax
- 5. ____________________ measures the monetary value of goods and services produced in an economy over a period of time.
- 7. This approach in measuring GDP focuses on all spending in the economy by households and firms on new and final goods
- 9. These represents the expenditure of local consumers on foreign products.
- 11. This refers to the total level of expenditure by the households on domestically produced goods and services.
- 14. must take place even if a consumer has no disposable income.