Economics-Unit 1 0.0 / 5 ? EconomicsUnit 1GCSEOCR Created by: EGFRevisionCreated on: 14-04-18 18:05 52743916810 Across 1. The next best alternative forgone when making a choice. What we give up when we make a choice. (11, 4) 5. A market situation in which there are a large number of buyer(demand) and sellers (supply) (11, 6) 6. Increasing price will reduce quantity sold by a greater amount and revenue will fall (7) 8. Goods for which demand increases when incomes increase (6, 4) Down 2. The total amount of money a firm receives when selling its products (5, 7) 3. This occurs when two firms come together through a merger or takeover (11) 4. A minimum price is set above the equilibrium and the price is not allowed to go below it (7, 5) 7. When demand and supply meet and the market 'clears' (11) 9. Increasing price will reduce quantity sold by a smaller amount and revenue will increase (9) 10. Agreed coming together of two firms (6)
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