micro chapter 3

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Across
  1. 2. law of ________: the principle that there is a direct relationship between the price of a good and the quantity sellers will provide
  2. 4. there is a(n)_________ relationship between a price change for one good and the demand for its "go together" good
  3. 7. quantity is shown on the ______ axis in an economics graph
  4. 8. mechanism that uses forces of supply and demand to create equilibrium through rising and falling prices
  5. 11. an increase in demand is shown on a graph as a rightward _______
  6. 13. any good for which there is an inverse relationship between changes in income and its demand curve
  7. 16. shows the various quantities of product at various prices buyers will purchase
  8. 17. a decrease in demand is shown on a graph as a __________ shift
  9. 18. any good for which there is a direct relationship between changes in income and its demand curve
  10. 19. change in _______ is shown on a graph as movement between points along a stationary demand curve
  11. 20. an arrangement between buyers and sellers to interact to determine price and quantity of a good
Down
  1. 1. a good that competes with another for consumer purchases
  2. 3. shown on the vertical axis in an economics graph
  3. 5. condition that occurs when quantity supplied equals quantity demanded
  4. 6. condition in which quantity supplied is less than quantity demanded
  5. 9. good that is jointly consumed with another good
  6. 10. change in _______ is an increase or decrease in the quantity demanded at every possible price
  7. 12. there is a(n) ______ relationship between a price change for one good and the demand for a substitute (competitor's)good
  8. 14. movement along a supply curve (between points) is called a change in ______ supplied
  9. 15. principle that there is an inverse relationship between the price of a good and the quantity buyers purchase