Across
- 5. is the desire to own something and the ability to pay for it.
- 6. shows the quantities demanded at each price by all consumers in the market.
- 8. is a table that lists the quantity of a good that a person will purchase at each price in a market.
- 10. are goods used in place of another.
- 13. a Latin phrase economists use meaning “all other things held constant”.
- 14. are two goods that are brought together and used together.
- 15. is a good consumer demand less of when their income decreases
- 16. demand for a good that is very sensitive to change
Down
- 1. is a good that consumes demand more when their income increases.
- 2. is a fundamental principle of economics that states that at a higher price consumers will demand a lower quantity of a good
- 3. is a graphical representation of a demand schedule.
- 4. when the elasticity is exactly equal to 1.
- 7. is a measure of how consumers react to a change in price.
- 9. is one component of the effect of a change in the price of a good upon the amount of that good demanded by a consumer, the other being the income effect.
- 11. is the total amount of money the company receives from selling its goods or services.
- 12. demand for a good that consumers will continue to buy despite a price change.