Year 9 Economics

2. How much of a product or service people are willing to buy at a certain price.
4. A place where buyers and sellers meet to exchange goods and services.
5. The fundamental economic problem of having seemingly unlimited human wants in a world of limited resources.
7. The amount of money required to purchase something.
11. A general increase in prices and fall in the purchasing value of money.
12. Essential items required for survival, like food and water.
15. The total amount of a specific good or service that is available to consumers.
17. The social science that studies how people use resources to meet their needs and wants.
18. The action of putting money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit.

1. Activities provided by others for economic benefit, such as teaching.
3. Costs The value of the best alternative given up when making a choice.
6. A situation in which resources are plentiful and exceed the quantity needed.
8. A person who purchases goods and services for personal use.
9. Items that people desire but are not essential for survival.
10. A market structure characterised by a single seller, selling a unique product in the market.
13. A system by which a country’s money and goods are produced and used.
14. Physical items that can be bought or sold.
16. Wealth in the form of money or other assets owned by a person or organization.