Economics: How markets work

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  • Created by: samstarrz
  • Created on: 12-04-14 15:20
U O O F C W Q E Y D A W A I E B P N U H N
Q R T P T S I O X K C L I I U M S P L P Q
B X N P K I R U E Q O K L E K N Q J V E F
A U D U H J H R U B Q C I W U D A O K F F
U D E R I V E D D E M A N D C U Y Y X C L
D B U C I N E L A S T I C G O O D J J R R
L O F O O W W A W D D X O K U X P P L J T
A D V A L O R E M T A X P N G X S L E E R
D J J S K A X P R Q A G V L L R G J R P Q
N P N O R M A T I V E S T A T E M E N T T
X R S T G T V I E T K P R Q E T N S T X X
U N I T A R Y E L A S T I C I T Y D L J Y
F Y K L U O P P O R T U N I T Y C O S T U
H J D Y C T K C V P T N G E V G U I B W Q
T V D I V I S I O N O F L A B O U R L W F
D T X J I I N F E R I O R G O O D Y C U K
V C H E G U S P E C I A L I S A T I O N K
S Y L E X G I H J B E A R N Y Q Q M S F K
W R E N E W A B L E R E S O U R C E B I E
R L B O I Y F Q J D S N W J A U Q D E J D
W G Q R D C R R Y M F Y M R J Q P U C S I

Clues

  • A statement containing value judgement (9, 9)
  • A tax as a percentage of the price of the good (2, 7, 3)
  • If PED is equal to 1 (7, 10)
  • If YED is negative (8, 4)
  • If you increase price, revenue will increase if... (9, 4)
  • Stock levels can be maintained over a period of time (9, 8)
  • The demand for the good or service it produces not the labour itself (7, 6)
  • The loss of the value of the next best alternative foregone (11, 4)
  • Where an individual, firm, region, country concentrates on the production of a limited range of goods and services (14)
  • Where the production process is broken down into a sequence of stages and workers are assigned to a particular stage (8, 2, 6)

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