Economic Principles 1

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  • Created by: amyclaire
  • Created on: 05-01-19 17:16
A C O M M O N P O O L R E S O U R C E E W
X E M R L B J L D F B F G E T X X D I K B
Q W M P R I C E S E T T I N G C U R V E U
P I G O U V I A N S U B S I D Y T A X M J
J K U L M Y V L B X C P Q Q P Q J M C U P
S R G T Q Y Q M G L Y N O U Y X U U J S T
X K N L K X C C T M V S E F N S K B M M G
C A P I T A L P R O D U C T I V I T Y E E
H G Y E J K I D X I G Y H B D T Y P P U X
F A L W Y V E G A S P E H N I O T C D R T
F I N A N C I A L A C C E L E R A T O R S
M S F I R M S P E C I F I C A S S E T J R
P R O D U C T I O N F U N C T I O N P A Y
R B J X W M E A R R R T W U U P V D C D X
O L V P R U U T Q O X R V O P G W D C M O
R E D I S T R I B U T I O N P O L I C Y D
C O M P A R A T I V E A D V A N T A G E M
S T R A G E D Y O F T H E C O M M O N S F
K K S H S N Q I O S Q Q B X S U C H P U P
Y W H M A J C O Q I Y F M R Y A M E C P W
H G Y X K J W M B E B S L Q D K H N D G S

Clues

  • Ability to borrow increases when value of collateral pledged goes up (9, 11)
  • Curve giving real wage paid when firms choose p max price (5, 7, 5)
  • Encourages/ discourages economic activity with external effects (9, 7, 3)
  • Graphical expression of amount of output produced by any amount of input, describes differing tech capable of producing same thing (10, 8)
  • If the cost of producing an additional unit of a good relative to cost of producing another good is lower than another person's cost to produce the same two goods (11, 9)
  • Output p unit of capital good (7, 12)
  • Rival good that is non excludable eg. public fishery (6, 4, 8)
  • Social dilemma where self interested individuals act independently deplete a common resource, lowering payoffs for all (7, 2, 3, 7)
  • Something a person owns/ can do that has more value in their current firm than next best alternative (4, 8, 5)
  • Transfers of gov resulting in final income distribution different from market income (14, 6)

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