Economics Chapter 4

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Across
  1. 2. statistical characteristics of populations
  2. 4. Describes demand whose elasticity is exactly equal to one
  3. 8. A graphic representation of a demand schedule
  4. 9. A good that consumers demand more of when their incomes increase
  5. 12. goods used in place of one another
  6. 14. a table that lists the quantity of a good all consumers in a market will buy at each different price
  7. 17. the change in consumption resulting from a change in real income
  8. 18. A measure of how consumers react to a change in price
Down
  1. 1. when consumers react to an increase in a good’s price by consuming less of that good and more of other goods
  2. 3. Describes demand that is very sensitive to a change in price
  3. 5. a Latin phrase that means “all other things held constant”
  4. 6. A good that consumers demand less of when their incomes increase
  5. 7. The total amount of money a firm receives by selling goods or services
  6. 10. A table that lists a quantity of a good a person will buy at each different price
  7. 11. Two goods that are bought and used together
  8. 13. Describes demand that is not very sensitive to a change in price
  9. 15. consumers buy more of a good when it’s price decreases and less when it increases
  10. 16. the desire to own something