Economics: How markets work

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

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 less than 1 (9)
  • If XED is positive (11)
  • If YED is positive (6, 4)
  • If you increase price, revenue will increase if... (9, 4)
  • Stock levels are depleted over time due to economic exploitation (3, 9, 8)
  • Stock levels can be maintained over a period of time (9, 8)
  • Wants are infinite but resources are finite (8)
  • Where resources are allocated by the price mechanism (4, 6, 7)

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