ECONOMIC EXPRESSIONS

4. A measure of the responsiveness of quantity
9. The rivalry among firms in a market to attract
11. The concept that resources are limited, but
12. A term used to describe the total satisfaction
13. demand for the other
15. The quantity of a good or service that consumers are willing and able to purchase at a given price and time
16. income among individuals or groups in a
17. Goods or services that can replace others, so
18. or supplied to a price change
19. an increase in the price of one can increase
20. The quantity of a good that producers are

1. The system of production, distribution, and consumption of goods and services
2. wants and needs are unlimited, creating a
3. of sufficient resources.
5. to exchange goods and services.
6. A system or arena in which buyers and sellers
7. of a good is produced or consumed
8. from consuming a good
9. and achieve sales.
10. to sell at various prices
14. A fundamental concept that measures how
18. The unequal distribution of resources, wealth,