Supply + Demand/Pricing

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Across
  1. 5. One price compared to another; the ratio between two prices
  2. 7. The quantity of a good or service that buyers are ready to buy at a given price at a particular time
  3. 8. Actual price that prevails in a market at any particular moment
  4. 10. The amount of satisfaction a good or service will provide a customer
  5. 12. A maximum legal price that businesses can charge for certain products
  6. 15. The amount of money paid for a good, service, or resource
  7. 16. The minimum price producers are willing and able to receive for a product
  8. 17. The situation that exists when demand is greater than supply
Down
  1. 1. A phenomenon that occurs when changes in relative prices cause buyers to replace the purchase of one product with another
  2. 2. The best time for consumers to buy; characterized by large supply, small demand, and low prices
  3. 3. Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid
  4. 4. The best time for producers to sell; characterized by large demand, small supply, and high prices
  5. 6. A function of relative prices that determines who gets the goods and services produced; determining how scarce resources will be distributed
  6. 9. The point at which the quantity of a product that buyers want to buy is equal to the quantity that sellers are willing to sell at a certain price; equal to both the demand price and the supply price
  7. 11. The situation that exists when supply is greater than demand
  8. 13. 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
  9. 14. Any circumstance under which buyers and sellers exchange goods or services for a price