Chapter 4 terms: Hannah & Gavin

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Across
  1. 2. This is a curve that shows the quantities demanded at all possible prices
  2. 4. ___ is how societies use scarce resources to produce and distribute goods and services
  3. 6. This is the additional satisfaction or usefulness a consumer gets from having one or more units of a product
  4. 8. Part of economics that studies small units, such as individuals and firms is called ___
  5. 9. Competing products that can be used in place of one another are called ___
  6. 10. ___ is the combination of desire, ability, and willingness to buy a product
Down
  1. 1. ___ is a measure of responsiveness that shows how one variable responds to a change in another variable
  2. 3. ___ is a type of elasticity where a change in price causes a smaller change in quantity demanded
  3. 5. ___ is a type of elasticity where a change in price causes a larger change in quantity demanded
  4. 7. Products that increase the use of other products are called ___