Economics

4. there is a ...... in the demand due to rises in price, other factors constant.
6. the products offered for sale in a perfect competition market are......
8. When the production of a good or service with no close substitutes is carried out by a single firm with the market power to decide the price of its output.
9. a severe and prolonged recession
11. The difference made by one extra unit of something.
13. a curve showing combination of two goods that give the consumer equal satisfaction and utility.
14. a measure of the responsiveness of one variable to changes in another.
15. the Latin pharse for other factors remaining constant

1. an industry for which the supply and demand curve never intersect in the positive axes.
2. Makes the world go round and comes in many forms, from shells and beads to gold coins to plastic or paper.
3. the branch which analyses economy-wide phenomena such as growth, inflation and unemployment.
5. Two products, for which an increase (or fall) in demand for one leads to an increase (fall) in demand for the other.
7. a system which facilitates the interaction between buyers and sellers
10. a state of rest form which no buyer or seller would like to move from.
12. The value of all the goods and services produced for money in an economy,evaluated at their market prices.