Economics Chapter 4

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Across
  1. 4. Combination of quantities that someone would be willing and able to buy over a range of possible prices at a given moment
  2. 10. A measure of responsiveness that tells us how a dependent variable responds to a change in an independent variable
  3. 15. Movement along the demand curve showing that a different quantity is purchased in response to a change in price
  4. 17. Listing showing the quantity demanded at all possible prices that might prevail in the market at a given time
  5. 19. Competing products that can be used in place of one another
  6. 20. Additional satisfaction or usefulness obtained from acquiring or consuming one more unit of product
Down
  1. 1. The portion of a change in quantity demanded that is due to a change in the relative price of the good
  2. 2. Demand curve that shows the quantities demanded by everyone who is willing and able to purchase a product at all possible prices at one moment in time
  3. 3. Branch of economic theory that deals with behavior and decision making by small units such as individuals and firms
  4. 5. Different amounts of a product are demanded at every price, causing the demand curve to shift to the left or to the right
  5. 6. Something that motivates
  6. 7. Rule stating that more will be demanded at lower prices and less at higher prices
  7. 8. Decrease in additional satisfaction or usefulness as additional units of a product are acquired
  8. 9. Elasticity where a change in the independent variable generates a proportional change of the dependent variable
  9. 11. The extent to which a change in price causes a change in the quantity demanded
  10. 12. Case of demand elasticity where the percentage change in the independent variable causes a less than proportionate change in the dependent variable
  11. 13. The portion of a change in quantity demanded caused by a change in a consumer's income when the price of a product changes
  12. 14. Product that increases the use of other products
  13. 16. Type of elasticity in which a change in the independent variable results in a larger change in the dependent variable
  14. 18. Graph showing the quantity demanded at each and every possible price that might prevail in the market at a given time