Lillian Hooker 2.02E Vocabulary Crossword

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Across
  1. 4. The quantity of a good or service that sellers are able and willing to offer for sale at a specified price in a given time period
  2. 5. ceiling A maximum legal price that businesses can charge for certain products
  3. 8. The amount of satisfaction a good or service will provide a customer
  4. 9. Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid
  5. 11. Equilibrium price
  6. 13. The minimum price producers are willing and able to receive for a product
  7. 16. information A function of relative prices that is necessary for consumers, producers, and resource owners to make important economic decisions; data concerning value/cost
Down
  1. 1. Those who provide human resources, natural resources, and capital goods in order for production to take place
  2. 2. One price compared to another; the ratio between two prices
  3. 3. A phenomenon that occurs when changes in relative prices cause buyers to replace the purchase of one product with another
  4. 6. A function of relative prices that determines who gets the goods and services produced; determining how scarce resources will be distributed
  5. 7. The best time for producers to sell; characterized by large demand, small supply, and high prices
  6. 10. price: Actual price that prevails in a market at any particular moment
  7. 12. The amount of money paid for a good, service, or resource
  8. 14. The people who make or provide goods and services
  9. 15. control Government restrictions on the minimum and/or maximum prices of certain products