Business Studies and Economics - 2 Crossword Puzzle

QUESTIONS LIST:

• comparative advantage : a situation in which a country is able to produce a particular good or service at a lower opportunity cost.
• interest rate : the price of borrowed money – either the cost of lending money or the rate of return for depositing money in a bank.
• slump : economic conditions defined by falling demand, falling output and rising unemployment.
• tariffs : a specific form of tax imposed on imported goods.
• factor endowments : the factors of production a country has available to produce goods and services.
• over dependence : excessive reliance by a country on the production of a narrow range of products for income and jobs.
• import : the sale/transference of goods from one country into another.
• gdp : the monetary value of all goods and services produced by an economy during a specific time period. (gross domestic product)
• price elastic : demand for a product is responsive to change in price.
• price inelastic : demand for a product is not very responsive to change in price.
• globalization : the increasing trend for businesses to trade across international borders and for people to travel to other countries.
• labor cost : the cost - most significantly the salary/wage costs - of using employees.
• boycott : to stop buying a product or engaging in a particular activity as a form of protest.
• business ethics : the moral judgement about the rights and wrongs associated with business behavior.