Across
- 2. If the Airbnb platform upgraded their software system there would be an increase in reservations, whereas the opposite could happen during times of economic hardships (hint: it’s a curve)
- 7. when something influences on buying plans (other than the price) there is a __________ for that good
- 9. Airbnb is not a —---- because there are multiple sellers in the market
- 10. When the customer has multiple Airbnb options he has to make a ______ and pick the most suitable one
- 13. The price a customer needs to pay in order to stay in an Airbnb
- 16. is the sum of marginal utilities
- 17. what do we call the additional benefit that users of Airbnb get from using Airbnb (it diminishes with every additional unit of a good)
- 18. if the government sets a maximum price for Airbnb then that would be called
- 19. A financial motivation given to home owners in order to motivate them to start an Airbnb business
- 20. if the government sets a minimum price for Airbnb then that would be called —-------
- 22. Airbnb’s additional units of product that are an excess
- 23. there are six main factors that change it, the prices of factors of production, prices of related goods produced, expected future prices, number of suppliers, technology, and state of nature
- 24. unlimited desires or wishes for certain goods and services, it reflects decision about wants that we want to satisfy.
- 25. if we are more willing to pay for a nonfunctional apartment that is pretty over a good functional one (hint: it fist letters are P,O,V)
Down
- 1. Airbnb has a lower opportunity cost than Booking. hr because of the commission fee, so Airbnb has a higher _______than booking.com
- 3. that is a measure of the responsiveness of demand for a good to change in the price of a substitute or complement, but all the other things stay the same.
- 4. In comparison to substitutes such as Vrbo, Airbnb offers a higher variety of property listings which creates the___________ fo Airbnb, consumers having more property options.
- 5. The maximum amount customer is willing to pay for Airbnb with additional good or service, it also brings additional satisfaction or utility.
- 6. The cost of renting out one more additional Airbnb
- 8. The service of a stay in an Airbinb and all additional gains it offers
- 11. The benefit of using Airbnb instead of another rental platform
- 12. under the equilibrium production in which Airbnb doesn’t produce enough for the market
- 14. total amount of income Airbnb receives from customers
- 15. because there are so many options on Airbnb it's easy for people to not have to pay more than they anticipated
- 21. it reflects the decision of Airbnb about which technologically achievable items to produce