Across
- 3. Equilibrium price
- 8. The maximum price buyers are willing and able to pay for a product
- 10. The situation that exists when demand is greater than supply
- 11. The minimum price producers are willing and able to receive for a product
- 12. A maximum legal price that businesses can charge for certain products
- 13. The situation that exists when supply is greater than demand
- 15. The amount of money paid for a good, service, or resource
- 16. One price compared to another
Down
- 1. determining how scarce resources will be distributed
- 2. People who use goods and services to satisfy their wants
- 4. Those who provide human resources
- 5. The amount of satisfaction a good or service will provide a customer
- 6. The people who make or provide goods and services
- 7. A function of relative prices
- 9. a product that buyers want to buy is equal
- 14. sellers are willing to offer for sale at a specified price in a given time period