swine MARKET FALURE Name, MARKET FAILURE Complete the crossword below Pe fa Pmlailxlelalele]o]n m|y r r Polulalaglelelale afelaile i ri 3 m «leleye]@l-l-]=]=[e 3 t ce 1 ° m Pp e d r © ‘ ¥ clilvlelele|»lel=lel<[: 1 3 1 vl fe t b bluleale|e vfele]ife ] blelid-]elelelele]=le] [= a 3 e alele]: g]elola ] felxfelefr|afafifafe}a t Created on TheTeachersCorner.net Crossword Maker Privatesector Meritgoods Marketfailure Freemarket Socialcost Budgetdeficit Publicsector Socialbenefit Privatecost Monopoly Publicexpenditure Efficiency Externalities BudgetSurplus Mixedeconomy Demeritgoods Externalities Privatebenefit iepihworksheetsthetencherscorne.netimake-your-ounlerasswordleressword php 12swine Across 3. a system that is partly a free market economy but also has government involvement in economic decisions. (mixedeconomy) 4, those parts of the economy that are private Individuals (any adult). (privatesector) 6. when the government spends more than it receives in taxation. (budgetdeficit) 7. - when markets don't allocate resources efficiently (marketfailure) 11. the cost to society as a whole (not just those involved in the transaction); both private and external costs. (socialcost) 12. the benefits to the consumer and firm resulting from a transaction (privatebenefit) 13. when the government has received more in taxation than it spends (budgetsurplus) 14. the cost to the customers and businesses involved in a transaction. (privatecost) 15. good which are underconsumed because we cannot accurately measure the benefits derived from their consumption (information failure). (meritgoods) 16. the additional costs and benefits beyond private ones imposed on society that arise out of the production or consumption decision (externalities) iepihworksheetsthetencherscorne.netimake-your-ounlerasswordleressword php MARKET FAILURE Down 1. a system where economic decisions are taken by private individuals and businesses (What to produce, How to produce it, who gets What) (freemarket) 2. goods which are overconsumed because we cannot accurately measure the costs of their consumption (demeritgoods) 4, spending by the government (paid for by taxation or borrowing). (publicexpenditure) 5. - making the best use of our scarce resources. (efficiency) 8. when there is a sole supplier of a good or service. (monopoly) 9. those parts of the economy controlled by the government (publicsector) 10. the benefits to society as a whole, not just for those involved in the transaction (both private and external benefits). (socialbenefit) 2p