Economics Crossword

5. A measure of how responsive producers are to price changes in the marketplace
6. The additional cost of producing one more unit of their product
7. Adding fixed and variable costs together
10. schedule table that shows how much of a good or service all producers in a market are willing and able to offer for sale
11. The application of scientific methods and discoveries to the production process
12. The willingness and ability of producers to offer goods and services for sale.
14. Expenses that the owner of a business must incur whether they produce nothing, a little, or a lot
15. Graph that shows how much of a good or service an individual producer is willing and able to offer for sale at each price.
16. Business costs that vary as the level of production output changes
18. An increase or decrease in the amount producers offer for sale because of a change in price
20. Having each worker focus on a particular facet of production
22. Change in total product that results from hiring one more worker
23. Data from the market supply schedule
24. Each new worker causes total output to grow but at a decreasing rate

1. Level of production where it realizes the greatest amount of profit
2. A set of rules or laws designed to control business behavior
3. A tax on the making or selling of certain goods or services
4. Table that shows how much of a good or service an individual producer is willing and able to offer
6. The added revenue per unit of output; money made from each additional unit sold
8. Occurs when something prompts producers to offer different amounts for sale at every price
9. The price of the resources needed to produce a good or service
13. Producers are willing to sell more of a good or service at a higher price than at a lower price.
17. The amount of goods and services that a person can produce in a given time
19. Each new worker adds more to total output than the last
21. The income a business receives from selling a product