Economics Crosswords Puzzle

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Across
  1. 3. describes supply/demand that is not very sensitive to price changes.
  2. 6. a measure of how consumers respond to price changes.
  3. 8. a minimum price for a good or service.
  4. 10. the total amount of money a company receives by selling goods or services.
  5. 12. a maximum price that can legally be charged for a good or service.
  6. 14. a chart that lists how much of a good a supplier will offer at various prices.
  7. 16. any price or quantity not at equilibrium.
  8. 18. a measure of the way quantity supplied reacts to a change in price.
  9. 19. when quantity demanded is more than quantity supplied.
  10. 21. a Latin phrase that means "all things held under constraint."
Down
  1. 1. the inverse relationship between price and quantity demanded that states, "consumers will buy more of a good when its price is lower and less when its price is higher."
  2. 2. the point at which the demand for a product or service is equal to the supply of that product or service.
  3. 4. goods that are used in place of one another.
  4. 5. two goods that are bought and used together.
  5. 7. when consumers react to an increase in a good's price by consuming less of that good and more of a substitute good.
  6. 9. the direct relationship between price and quantity supplied that states, "producers offer more of a good as its price increases and less as its price falls."
  7. 11. when quantity supplied is more than quantity demanded.
  8. 13. describes supply/demand that is very sensitive to a change in price.
  9. 15. a table that lists the quantity of a good a person will buy at various prices in a market.
  10. 17. the change in consumption that results when a price increase causes real income to decline.
  11. 19. the amount of goods available.
  12. 20. the desire to own something and the ability to pay for it.