Market failure

Horizontal Words

1. Example of a public good (10)
3. Aim of a public sector business (15)
5. Expense to a business (4)
7. Markets lead to inefficiency (13)
9. A business owned by one person (10)
11. Owners of private sector organisations (11)
13. Not a complete public good (5)
15. This economy has both private sector businesses and government intervention (5)

Vertical Words

2. Change in price results in a proportionately greater change in quantity demanded (7)
4. free-market is able to exclude consumers who have not paid and therefore make a (11)
6. The vast majority of products are provided by the public sector (10)
8. Assumes businesses always want to maximise profit (18)
10. Enjoys the benefit of a good but allows others to pay for it. Free ___ (5)
12. Aim of a private sector business (6)
14. Goods that are not likely to be provided by the private sector (6)
16. Change in price results in a proportionately smaller change in quantity demanded (9)