Supply & Demand

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Across
  1. 2. _________ Effect: The change in consumption patterns due to a change in the relative prices of goods.
  2. 5. A market condition in which the quantity supplied is greater than the quantity demanded at the current market price.
  3. 7. ____________ Good: A good that is used in conjunction with another good.
  4. 8. The quantity of a good or service that producers are willing and able to offer for sale at a given price.
  5. 9. The quantity of a good or service that consumers are willing and able to purchase at a given price.
Down
  1. 1. ______ Effect: The change in the consumption of goods and services by consumers as a result of a change in their real income.
  2. 3. _____________ Good: A good that can be used in place of another.
  3. 4. A market condition in which the quantity demanded is greater than the quantity supplied at the current market price.
  4. 6. A minimum price, typically set by the government, that sellers are allowed to charge for a good or service.
  5. 7. A maximum price, typically set by the government, that sellers are allowed to charge for a good or service.