Across
- 2. Vertical demand curve shows it is
- 6. luxuries usually have____ demand
- 10. Goods ready to be sold
- 11. Total amount producers are willing to sell
- 15. The study of how businesses allocate resources
- 16. More price = more supply, less price = less supply
- 17. Measures responsiveness of quantity demanded to price change
- 18. Desires backed by ability to pay
- 19. The curve which shows all combinations of two giving same level of satisfaction
- 21. Supply is directly related to this factor
- 22. An individual who uses goods and services
- 23. Demand of necessity goods is generally
- 24. Supply curve usually slopes
Down
- 1. Price * Quantity = Total ___
- 3. The law explaining inverse relation between price and demand
- 4. Goods that replace each other like tea and coffee
- 5. Study of individual economic units
- 6. Luxuries usually have ___ demand
- 7. point where budget line & IC are tangent
- 8. Goods consumed together
- 9. If elasticity = 1, demand is
- 12. A graph showing demand and price relationship
- 13. Demand curve usually slopes
- 14. When demand changes more than proportionately with price
- 20. A graph showing supply and price relationship