Economics-Key Words

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  • Created by: Alice B
  • Created on: 10-01-14 21:08
R E X A O B Y W Q V B Q O C A B H W J U X
A V G Q P V E C X J D N N O X D O T O A V
M S T W P K F S M S W A I M I N B C B V V
T O M S O M F S G W I T N P O A G M Y E I
L N P J R R E Q U B G I F E M M M H M B Q
R D W I T H C G V V T O E T N E A L O G L
O W N K U K T Y P A I N R I E D R K N W D
T U D X N A I K Q R R A I T H F K Y O Q C
C E V V I S V O J I Y L O I X O E Y C P V
E Q N C T Q E S X A C M R V D N T D E R K
S T L V Y N D T P B U I G E E O E E D Q N
E P J A C X E R T L D N O M R I C V E U Y
T Q G G O F M M O E I I O A S S O I N S Y
A K B R S G A W F C O M D R B N N Y N B L
V A K O T Y N E B O Q U S K M E O W A E R
I G D H F E D J W S Q M B E H T M I L C G
R W S D G Q L W P T H W I T T X Y V P C G
P D J S F W K E Y S U A D H W E F S Y U Y
E H S Y P Q P Y A T M G S E E G S S O G S
S R Y X F K A C Q Y W E U V J S C E F T J
L R S D E L R J O G Q S A Q N P Y I X B X

Clues

  • A market situation in which there are large numbers of buyers and sellers. (11, 6)
  • A wage level set by the government, which producers cannot legally go below. (8, 7, 4)
  • Costs that vary directly with output. (8, 5)
  • Goods for which the demand falls when income rises. (8, 5)
  • The increase in quantity demanded due to a fall in price. (9, 2, 6)
  • The next best alternative foregone when making a choice. (11, 4)
  • The sector of the economy where firms and owned and run by private individuals and groups-their main aim is profit maximisation. (7, 6)
  • When the consumer is willing and able to buy the good or service. (9, 6)
  • Where all resources are allocated by private individuals and groups. (6, 7)
  • Where all resources are allocated by the government. (7, 7)

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