Unit 1: Economics

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Across
  1. 1. In response to a shortage, what happens to prices?
  2. 6. Define the condition where quantity supplied exceeds quantity demanded.
  3. 8. At equilibrium, what is the state of the market?
  4. 10. What is the relationship between price and quantity demanded?
  5. 11. What does a point outside the PPF represent?
Down
  1. 2. What results from excess demand in the market?
  2. 3. When the demand curve shifts to the left, quantity demanded…
  3. 4. What represents the balance point of supply and demand?
  4. 5. What does a point inside the PPF indicate about production?
  5. 7. Ceteris
  6. 9. Define the law that states as prices rise, the quantity demanded falls