Across
- 5. illustrated by movement along the demand curve
- 10. what is found by multiplying the price of a product and the quantity demanded?
- 12. products that tend to be used together
- 13. graph showing the quantity demanded at each and every price at a given time
- 14. the extra usefullness or satisfaction a person gets from acquiring or using one more unit of a product
- 17. the desire, ability, and willingness to buy a product
- 18. change in quantity demanded due to a change in the price that alters a consumer's real income
- 19. area of economics that deals with behavior and decision making of small units
- 20. the decrease in satisfaction or usefulness recieved from each additional unit of a product
- 21. the extent to which a change in price causes a change in the quantity demanded
Down
- 1. in which direction does the demand curve shift when there is an increase in demand
- 2. describes demand when a given change in price causes a proportional change in the quantity demanded
- 3. a change in quantity demanded due to a change in the relative price of a product
- 4. what would decreasing the price of a product cause?
- 6. a measure of responsiveness that shows how a dependent variable such as quantity responds to an independent variable such as price
- 7. a company decreases the price of a gallon of milk by 10% and the company's total revanue falls significantly. what term best describes the demand for milk?
- 8. in what direction is the demand curve ALWAYS sloping?
- 9. productst that can be used in place of other products
- 11. describes demand when a given change in price causes a relatively larger change in the quantity demanded
- 15. the relationship between the change in price and total expenditures for an elastic demand curve is?
- 16. more of a product will be purchaced at low prices than at high ones
- 18. describes demand when a given change in price causes a relatively smaller change in the quantity demanded