Economics

2. A graphical representation showing the relationship between price and quantity supplied.
5. A graphical representation showing the inverse relationship between price and quantity demanded.
10. The type of good that can replace each other.
11. As the price of a good rises, the quantity supplied increases, ceteris paribus
12. Potential benefit lost when one alternative is chosen over another.
14. Amount of money required in payment for a good or service.
15. A tax imposed on goods or services.
17. The state of the market where quantity demanded equals quantity supplied.
18. As the price of a good falls, the quantity demanded increases, ceteris paribus.

1. A place where buyers and sellers engage in exchange.
3. The type of good consumed together.
4. Acronym for Demand ceteris paribus conditions.
6. When quantity supplied exceeds quantity demanded.
7. Latin phrase meaning all other things being the same.
8. When quantity demanded exceeds quantity supplied.
9. The quantity of a good or service that producers are willing and able to offer at a given price.
13. Acronym for Supply ceteris paribus conditions.
16. The quantity of a good or service that consumers are willing and able to purchase at variouos prices.