Economics Chapter 4: Demand

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Across
  1. 2. A measure of how consumers respond to price changes
  2. 5. Describes demand that is not very sensitive to price changes
  3. 7. Describes demand whose elasticity is exactly equal to 1
  4. 8. consumers will buy more of a good when its price is lower and less when its price is higher
  5. 9. Two goods that are bought are used together
  6. 10. A good that consumers demand less of when their incomes increase
  7. 12. The total amount of money a company receives by selling goods or services.
  8. 13. A graphic representation of a demand schedule
  9. 14. Goods that are used in place of one another
  10. 16. A table that lists the quantity of a good all consumers in a market will buy at various prices
Down
  1. 1. when consumers reaction to an increase in a goods price by consuming less more of a substitute good
  2. 2. Describes demand that is very sensitive to a change in price
  3. 3. A table that lists the quantity of a good a person will buy at various prices in a market
  4. 4. A good that consumers demand more of when their incomes increase
  5. 5. The change in consumption that results when a price increase causes real income to decline
  6. 6. the desire to own an item & the ability to pay for it
  7. 11. The statistical characteristics of populations and population segments, especially when used to identify consumer markets
  8. 15. A latin phrase that means "all things held constant"