10 Economics Crosswords Quiz

1234567891011121314151617181920
Across
  1. 1. What organization restricts and regulates the global oil supply?
  2. 6. The supply curve is ___________ sloping, showing that firms increase production of a good as its price increases.
  3. 7. Under certain conditions, a company may reduce prices and increase production to attract more consumers and dominate the market, even if it means lower profits. The company is aiming to expand its... (2 words)
  4. 9. What is the measure of the degree of responsiveness of quantity supplied to a related change in price called?
  5. 11. Changes in the conditions of supply cause a __ in the supply curve to the right or left
  6. 14. What is the interpretation if there is a small amount of response in quantity supplied to a change in price?
  7. 15. What is the period of time in which all factors of production involved in making a good are variable called (2 words)?
  8. 17. Farmers may plant fewer crops if they expect selling prices to fall in the future. Why? (2 Words)
  9. 18. If the percentage change in quantity supplied is equal to the percentage change in price, what is the interpretation?
  10. 19. What term describes the scenario when a change in price leads to no change in the quantity supplied? (2 words)
Down
  1. 2. What is a group of producers that collaborate to control supply and prices to increase their profits called?
  2. 3. If producers are prepared to supply any amount at any given price, what is the Price Elasticity of Supply Interpretation? (2 Words)
  3. 4. What other factors may affect the supply of goods and services in terms of rules and regulations? (2 Words)
  4. 5. If the time owned by the producer is long, then the producer has more time to switch one product to another. The supply of the goods will be..
  5. 8. In economics, what is defined as the quantity of goods that sellers are willing to sell at any given price over a period of time?
  6. 10. What is the period of time when at least one factor of production is fixed called (2 words)?
  7. 12. What is the additional profit that producers earn when selling a good/services at a higher price than the cost of production / minimum price that they set called (2 words)
  8. 13. A fall in price will lead to a fall in quantity supplied, or otherwise called as the _______ of supply.
  9. 16. What is the factor of supply that is a force of nature that greatly affects supply in agriculture, fishing, and energy industries called?
  10. 20. Which is likely to be more price inelastic? Short term or long term? (2 Words)