Economics: Supply and Demand Crossword Puzzle

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Across
  1. 5. Supply, quantity supplied is more than quantity demanded
  2. 6. quantity demanded is greater than quantity supplied (aka excess demand)
  3. 8. Ceiling, maximum price that can be legally charged for a good or service
  4. 10. point at which quantity demanded and quantity supplied are equal
  5. 13. Floor, minimum price that can be legally charged for a good or service
  6. 14. Monopoly, a market that runs most efficiently when one large firm supplies all of the output
  7. 15. Power, ability of a company to change prices and output like a monopolist
  8. 16. a market dominated by a single seller
  9. 18. Wage, minimum price a employer can pay a worker for an hour of labor
  10. 19. product that is the same no matter who produces it
Down
  1. 1. Demand, quantity demanded is more than quantity supplied
  2. 2. quantity supplied is not equal to quantity demanded
  3. 3. Competition, market structure in which a large number of firms all produce same product
  4. 4. to Entry, factors that make it difficult for a new firm to enter a market
  5. 6. quantity supplied is greater than quantity demanded (aka excess supply)
  6. 7. Monopoly, monopoly created by the government
  7. 9. Discrimination, division of customers into groups based on how much they will pay for a good
  8. 11. Control, price ceiling placed on rent
  9. 12. right to sell a good or service within an exclusive market
  10. 17. Shock, a sudden shortage of a good