Across
- 1. A form of demand for products in which changes in price correspond to changes in demand
- 4. Economic principle which states that the quantity of a good or service that will be offered for sale varies in direct relation to its price
- 6. An indication of how changes in price will affect changes in the amounts demanded and supplied
- 7. The total amount of money spent on costs of materials, labor, taxes, etc, to manufacture economic goods and services
- 10. A form of demand in which changes in price don't affect demand
- 14. Usefulness; capable of satisfying wants and needs
- 16. Products that are used together
- 18. Economic principle which states that the quantity of a good or service that people will buy varies inversely with the price of the good or service
- 19. The point at which the quantity supplied is equal to the quantity demanded
Down
- 2. Cash and credit a consumer has available to spend
- 3. Items that can be used in place of others; items that satisfy the same needs/wants; similar goods
- 5. The general conditions in which people live; quality of life
- 8. The amount of money available
- 9. The point at which the quantity of a good that buyers want to buy is equal to the quantity that sellers are willing to sell at a certain price
- 11. Economic principle which states that the supply of a good or service will increase when demand is great and decrease when demand is low
- 12. The best time for consumers to buy; characterized by large supply, small demand, and low prices
- 13. 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
- 15. The best time for producers to sell; characterized by large demand, small supply, and high prices
- 17. The quantity of a good or service that buyers are ready to buy at a given price at a particular time