Economics Chapter 4

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Across
  1. 3. Products that are used together so the increase or decrease in demand for one will result in an increase or decrease in demand for the other
  2. 4. describes demand that is very sensitive to price changes
  3. 8. describes demand whose elasticity is exactly equal to 1
  4. 10. describes demand that is not very sensitive to price changes
  5. 13. goods that consumers demand more of when their incomes rise
  6. 14. a measure of how consumers respond to price changes
  7. 15. A graph that shows the demand schedule or how much of a good or service an individual is able to purchase at each price
  8. 16. the desire, ability, and willingness to buy a product
  9. 17. a table that lists the quantity of a good all consumers in a market will buy at various prices
  10. 18. Products that can be used in place of other products to satisfy consumer wants
Down
  1. 1. the statistical characteristics of populations and population segments, especially when used to identify consumer markets
  2. 2. change in quantity demanded due to a change in the price that alters a consumer's real income
  3. 5. a Latin phrase that means "all other things held constant"
  4. 6. a change in quantity demanded due to a change in the relative price of a product
  5. 7. goods that consumers demand less of when their incomes rise
  6. 9. the total amount of money a company receives by selling goods or services
  7. 11. more of a product will be purchased at low prices than at high ones
  8. 12. A table that shows how much of a good or service an individual is willing and able to purchase at each price