Across
- 2. Any circumstance under which buyers and sellers exchange goods or services for a price
- 4. 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
- 7. price Equilibrium price
- 10. Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid
- 11. The maximum price buyers are willing and able to pay for a product
- 13. The situation that exists when supply is greater than demand
- 15. The best time for consumers to buy; characterized by large supply, small demand, and low prices
- 16. A function of relative prices that encourages producers to change and reallocate their resources; motivators
Down
- 1. The amount of satisfaction a good or service will provide a customer
- 3. price 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
- 5. A function of relative prices that determines who gets the goods and services produced; determining how scarce resources will be distributed
- 6. The quantity of a good or service that buyers are ready to buy at a given price at a particular time
- 8. People who use goods and services to satisfy their wants
- 9. demand The situation that exists when demand is greater than supply
- 12. price One price compared to another; the ratio between two prices
- 14. The best time for producers to sell; characterized by large demand, small supply, and high prices