Economics Chapter 4

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Across
  1. 1. Paribus — A Latin phrase meaning "all other things being equal."
  2. 5. Curve — A graph showing the relationship between price and quantity demanded.
  3. 7. — Goods that are often used together, so demand for one affects demand for the other.
  4. 8. Revenue — The total amount earned from sales, calculated as price × quantity sold.
  5. 11. Demand Schedule — A table showing the total quantity demanded by all consumers at different prices.
  6. 12. Good — A good for which demand increases when income increases.
  7. 13. of Demand — As the price of a good rises, the quantity demanded falls, and as the price falls, the quantity demanded rises, ceteris paribus.
  8. 15. Elastic — Demand where the percentage change in quantity demanded equals the percentage change in price.
  9. 16. of Demand — A measure of how responsive quantity demanded is to changes in price.
  10. 17. — Goods that can replace one another in consumption.
  11. 18. — Demand that changes relatively little when price changes.
Down
  1. 2. Effect — A change in consumption caused by a change in a consumer's purchasing power.
  2. 3. — Characteristics of a population, such as age, income, and education, that affect demand.
  3. 4. Schedule — A table showing the quantity demanded at different prices.
  4. 6. — The quantity of a good or service consumers are willing and able to buy at various prices.
  5. 9. — Demand that changes significantly when price changes.
  6. 10. Good — A good for which demand decreases when income increases.
  7. 14. Effect — Consumers buy more of a good when its price falls compared to substitute goods.