Across
- 3. The situation that exists when supply is greater than demand
- 5. The situation that exists when demand is greater than supply
- 8. The quantity of a good or service that buyers are ready to buy at a given price at a particular time
- 11. Any circumstance under which buyers and sellers exchange goods or services for a price
- 12. The best time for consumers to buy; characterized by large supply, small demand, and low prices
- 13. The best time for producers to sell; characterized by large demand, small supply, and high prices
- 15. Actual price that prevails in a market at any particular moment
- 16. Government restrictions on the minimum and/or maximum prices of certain products
Down
- 1. The amount of satisfaction a good or service will provide a customer
- 2. One price compared to another; the ratio between two prices
- 4. The amount of money paid for a good, service, or resource
- 6. The maximum price buyers are willing and able to pay for a product
- 7. The people who make or provide goods and services
- 9. A maximum legal price that businesses can charge for certain products
- 10. People who use goods and services to satisfy their wants
- 14. the minimum price producers are willing and able to receive for a product