11COMM Economics

1. types of goods that are needed and purchased when income is low. (These could be goods we already own as we look to purchase better)
6. when the demand curve shifts right this indicates a what in demand
8. money received, especially on a regular basis, for work or through investments, pocket money...
9. the label that is on the x axis
11. a type of good that is used alongside another product/good
12. act of choosing between two possibilities
14. a type of good that is replacement of another good that is the exact same
15. all factors remain unchanged, when all factors remain the same
17. when we see a change in demand, we see a what in the demand curve
18. principles or standards of behaviour; one's judgement of what is important in life

2. the next best alternative, the option you would have chosen, the option that misses out
3. the label that is on the y axis
4. when we have unlimited wants and limited means
5. represents demand for a good or service on a graph
7. to represent a change in price, we show a what in the demand curve (starts with m)
10. when the demand curve shifts left this is indicates a what in demand
13. type of good that is wanted and purchased when income is high
16. when prices increase demand decreases and vice versa. This is otherwise known as...