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Factors of Production / Costs

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1.Type of unemployment that results from a change in the time of year (2 Words)
8.It records all people in receipt of social welfare payments (2 Words)
11.Classical theory on what determines interest rates (3 Words)
12.________________ organises the other factors of production
13.Another name for capital owned by society (2 Words)
16.Economic characteristic of land (3 Words)
18.Costs that do not vary with output
20.An example of fixed capital
21.Costs that vary with output
23.type of profit when AR > AC (3 Words)
25.increasing the amount of capital and labour so the ratio remains the same (2 Words)
2.Keynes theory on interest rates (3 Words)
3.Effect of low interest rates on house prices (under normal circumstances) (2 Words)
4.type of profit when AR = AC (2 Words)
5.It causes the LRAC to increase (3 Words)
6.It is the extra revenue generated by employing an extra worker
7.Income minus consumption equals this
9.Extra cost of producing an extra unit (2 Words)
10.when you multiply price by quantity you get this (2 Words)
11.It comprises of all the people who are seeking work and those in employment (2 Words)
14.One of the motives why people hold money
15.increasing the amount of capital by a higher percentage to labour (2 Words)
17.When MR = MC (2 Words)
19.anything manmade that is used to provide goods or services
22.the physical effort that is used to provide goods and services
24.refers to the extra profit generated by employing an extra unit of labour

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