Unit 2 - Supply and Demand

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Across
  1. 6. government set minimum price that can be charged for a good
  2. 7. when demand is greater than supply - prices or too low
  3. 9. government set maximum price that can be charged for a good
  4. 10. the "reasons" for shifts in supply and demand
  5. 14. this changes due to a change in the price of the good itself
  6. 15. demand curve shifts this direction when there is an expectation of a future price decrease on goods
  7. 17. the amount of goods offered in a market
  8. 18. measure of the responsiveness to price changes
  9. 20. this was an example of a price floor discussed in class
  10. 21. supply curve shifts this direction when technology improves efficiency in production
Down
  1. 1. this is the elasticity score for unitary
  2. 2. the chart form of the supply or demand curve
  3. 3. these goods are not highly affected by price changes
  4. 4. these goods go well together and affect each other's demand
  5. 5. these types of goods are proportionally affected by price changes
  6. 8. the amount of goods desired in a market
  7. 11. when demand is lower than supply - prices are too high
  8. 12. this is what adam smith said would guide the market forces of supply and demand
  9. 13. these goods can easily be used in place of one another and affect each other's demand
  10. 16. point at which buyers and sellers agree on a price and quantity
  11. 19. these goods are highly affected by price changes