Economics
Across
- 2. any item that a supplier manufactures for consumers
- 4. an effect that an economic activity has on people and business who are neither producers nor consumers of the good or service being produced
- 11. the graph depicting the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to purchase at any given price
- 13. a situation in which the quantity demanded is more than the quantity supplied
- 15. the effect that a change in an items price has on consumers ability to purchase goods
- 16. the sum of a business’s fixed costs except for wages and materials
- 17. a government regulation that sets a maximum price for a particular good
- 18. a situation in which the quantity supplied of an item at a given price exceeds the quantity demanded
- 19. a rule that a government establishes and enforces to protect the public or provide equal access to specific goods and services
Down
- 1. difference between the revenue received from the sale of an output and the opportunity cost of the inputs used
- 3. the total amount of money that a company receives from selling its product, not before expenses
- 5. the situation that exists when quantity demanded changes greatly in response to change in price
- 6. the principle that producers will supply more of a product at higher prices and less of a product at lower prices
- 7. a business that another company either owns or in which it has controlling interest
- 8. a decrease in the value of a capital good because of its age, use, or deterioration.
- 9. a required payment to a local state or national government
- 10. desire and willingness to pay a price for a specific good or service.
- 12. a government regulation that sets a minimum price for a good
- 14. a cost of doing business that remains constant as production increases or decreases