Across
- 5. Resource that are limited in supply but have alternative use
- 6. A firm that can influence or set the market price
- 10. The total amount of output produced using given inputs
- 11. Many firm ,same product
- 12. At least one fixed input
- 15. Tax that is imposed by the government on producers or sellers but paid by or passed on to end users
- 16. When quantity demanded and quantity supplied are equal and there is no tendency for price
- 17. As producers to maximize profit
- 18. Good/service that can be used in place of another.
Down
- 1. As consumer to maximize satisfaction
- 2. The total amount of output produced using given inputs
- 3. Extra output when labor increase
- 4. A cost that remains constant regardless of output level in the short run
- 5. An incentive from government to encourage producers to produce more.
- 7. One firm ,no substitute
- 8. The practice of charging different prices to different consumers for the same product
- 9. Provide the best economic space for people
- 13. Government imposed regulations that prevent prices from failing below a minimum level
- 14. A law stating that when price increases, quantity demanded decrease.
- 19. A time period in which at least one factor of production is fixed