Economics 4.5 / 5 based on 2 ratings ? EconomicsASAQA Created by: Joe MundayCreated on: 31-03-13 23:02 786354219 Across 1. Excess of the quantity demanded of a good or service, at a given price, over its supply at that price. (6, 6) 4. One currency in terms of another. (8, 4) 5. An involuntary fee levied on corporations or individuals that is enforced by a level of government in order to finance government activities. (3) 6. Reduction of the general level of prices in an economy. (9) 7. A product that one individual can consume without reducing its availability to another individual and from which no one is excluded. (6, 4) 9. The monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis. (3) Down 2. A situation that can occur in a market or business where the amount of a product provided or material obtained exceeds the amount required or demanded. (6, 6) 3. Total outstanding borrowings of a central government comprising of internal (owing to national creditors) and external (owing to foreign creditors) debt incurred in financing its expenditure. (8, 4) 7. This occurs when the consumption or production of a good causes a benefit to a third party. ·For example, when you consume education you get a private benefit. But there are also benefits to the rest of society. (8, 11) 8. Establishing the price of a product or service, rather than allowing it to be determined naturally through free-market forces. (5, 6)
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