Chapter 4 Economics

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Across
  1. 3. a table that list the quantity of a good a person will buy at each different price
  2. 6. when consumers react to an inrease in a good;d price by consuming less of that good and more of other goods
  3. 9. goods used in place of each other
  4. 10. the change in consumption resulting from a change in real income
  5. 12. a good that consumers demand more of when their income increases
  6. 13. economic law that that states that consumers buy more of a good when its price decreases and less when it's price increases.
  7. 14. a table that lists the quantity of a good all consumers in a market will buy at very different price.
  8. 16. the desire to own something and the ability to pay for it
  9. 17. describes demand whose elasticity is exactly equal to 1
Down
  1. 1. two goods that are bought and used together
  2. 2. a graphic representation of a demand schedule
  3. 4. a measure of how consumers react to a change in price
  4. 5. describes demand that is not very sensitive to a price change
  5. 7. a good that consumers demand less of when their income increases
  6. 8. the total amount of money a firm receives by selling goods or services.
  7. 11. describes demand that is very sensitive to a change in price
  8. 15. a Latin phrase meaning "all other things held constant"