Demand Crossword

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Across
  1. 3. the gathering and evaluating of information about customer preferences
  2. 8. Shows how much of a good or service ALL consumers are willing and able to buy at each price in the market
  3. 9. shift in the demand curve
  4. 10. two-column table that shows how much of a good or service an INDIVIDUAL consumer is willing and able to purchase at each price in the market
  5. 11. purchase products at the lowest possible price
  6. 13. demand is inelastic if quantity demanded changes little as price changes
  7. 15. demand is elastic if quantity demanded changes significantly as price changes.
  8. 18. is the desire to have some good or service and the ability to pay for it
  9. 21. Shows data found in market demand schedule. It shows the quantity that all consumers, or market as a whole, are willing and able to buy at each price. displays the data from the schedules
  10. 22. Price x Quantity sold
Down
  1. 1. This is the pattern of behavior that occurs when consumers react to change in the price of a good or service by buying a substitute product- one whose price has not changed and that offers a better relative value
  2. 2. states the marginal benefit from using each additional unit of a good or service during a given time period tends to decline as each is used
  3. 4. is a measure of how responsive consumers are to price changes
  4. 5. graph shows how much of a good or service an individual will buy at each price
  5. 6. goods that consumers demand more of when their income rise
  6. 7. increase or decrease in the amount demanded because of a change in price
  7. 12. provide products at the highest possible price to make a profit
  8. 14. states that when prices go down, quantity demanded increases. When prices go up, quantity demanded decreases
  9. 16. Term used for a change in the amount of a product that a consumer will buy because the purchasing power of his/her income changes- even though the income itself doesn’t change
  10. 17. When the percentage change in price and quantity demanded are the same. This is the dividing point between elastic or inelastic
  11. 19. satisfaction gained from the use of a good or service
  12. 20. goods that consumers demand less of when their income rise.