Economics Class Crossword Puzzle

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Across
  1. 3. A payment made by the government to encourage the consumption or production of a product or service
  2. 7. Surplus Sum of consumer surplus and producer surplus
  3. 9. Demand condition in which consumers are not very responsive to a change in price
  4. 11. Two goods that are uses together
  5. 13. Quantity The amount at which the quantity supplied is equal to the quantity demanded
  6. 14. Measure of buyers and sellers responsiveness to change in price or income
  7. 18. Curve A graph that shows the relationship between the prices in the supply schedule and the quantity supplied at those prices
  8. 19. Surplus The willingness to sell a good and the price the seller recieves
Down
  1. 1. When the quantity supplied is less than the quantity demanded
  2. 2. Supplied The amount of a good or service that producers are willing and able to sell at the current price
  3. 4. Resources used in the production process
  4. 5. Demand condition in which consumers are responsive to a change in price
  5. 6. When an allocation of resources maximizes total surplus
  6. 8. When the quantity supplied is greater than the quantity demanded
  7. 10. Two goods that are used in place of each other
  8. 12. Supply Sum of the quantities supplied by each seller in the market at each price
  9. 15. of Supply Other things being equal, the quantity supplied of a good rises when the price rises and vice versa
  10. 16. Surplus Difference between the willingness to pay for a good and the price that is paid to get it
  11. 17. Good A good that a consumer usually buys