spending by a government, usually a national government

money that a business receives over a period of time, especially from selling goods or services

income that is available to someone over a period of time to spend; it includes state benefits but excludes direct taxes

goods for which demand will fall if income rises or rise if income falls

goods purchased together because they are consumed together

relationship between price and the quantity supplied when the price goes up, the quantity supplied also goes up and when the price goes down the quantity supplied also goes down

new business activities or projects that involve taking risks

taxes levied on spending, such as VAT

money that is paid by a government or an organisation to make prices lower, reduce the cost of producing goods or providing a service, usually to encourage production of a certain good

price at which the amount supplied in a market matches exactly the amount demanded

where PED= -1 (the responsiveness of demand is proportionately equal to the change in price)

a person or company that sells goods in large quantities to businesses, rather than to the general public

non-essential spending or spending that is not automatic

government tax on certain goods, such as cigarettes, alcoholic drinks, and petrol that are sold in a country

tax on some goods and services - businesses pay VAT on most goods and services they buy and if they are VAT registered, and charge VAT on the the goods and services they sell

part of a company's profit that is divided among the people with shares in a company

things or resources belonging to an individual or a business that has value or the power to earn money

amount of debt that is owned or must be paid

goods that are under-provided by the public sector

goods that are not likely to be provided by the private sector

situations that occur when one firm in an industry can serve the entire market at a lower cost than would be possible if the industry were composed of many smaller firms

if a company or economy diversifies, it increases the range of goods or services it produces

effects that one situation or problem has on another situation