Craig Pentland - Micro Crossword

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Across
  1. 4. The price of a good multiplied by the quantity of that good sold
  2. 6. When quantity demanded exceeds the quantity supplied
  3. 8. Revenue minus costs
  4. 10. Production of goods based on comparative advantage
  5. 13. When the government pays for the production of a good
  6. 15. Tax where the proportion of income paid in taxes rises as income rises
  7. 16. Price where quantity supplied equals the quantity demanded
  8. 18. Basic problem in economics
  9. 19. A good with high income elasticity
Down
  1. 1. The next unit, or increment of, an action
  2. 2. When one firm hires all labor in a market
  3. 3. Goods produced abroad but consumed domestically
  4. 5. Measures the sensitivity, or responsiveness, of a choice to a change in an external factor
  5. 7. Goods that are both rival and excludable
  6. 9. One firm, high barriers to entry, differentiated products
  7. 11. Goods and services produced domestically but sold abroad
  8. 12. Unit of happiness
  9. 13. When quantity supplied exceeds the quantity demanded
  10. 14. Goods that are both nonrival and nonexcludable
  11. 17. A group with buyers and sellers of a good or service