Economics - Markets in Action Key Terms C1-3 5.0 / 5 based on 1 ratingTeacher recommended ? EconomicsCompetitive marketsASOCR Created by: HollieCreated on: 03-01-13 13:41 64892531710 Across 1. Income after taxes on income have been deducted and state benefits have been deducted and state benefits have been deducted and state benefits have been added and the result has been adjusted to take into account changes in the price level. (4, 10, 6) 6. Anything you would like irrespective of whether you have the resources to purchase it. (4) 7. The amount of money that is paid for a given amount of particular good or service. (5) 9. The study of how to allocate scarce resources in the most effective way. (9) Down 2. The extent to which buyers and sellers respond to a change in market conditions. (10) 3. The quantity of a product that consumers are willing and able to purchase at various prices over a period of time. (6) 4. Situation existing where individual consumers cannot be excluded from consumption. (3, 13) 5. The difference between the total revenue ( sales revenue ) of a producer and total cost. (6) 8. Income after taxes on income have been deducted and state benefits have been added. (10, 6) 10. The process by which goods and services are traded. (8)
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