Across
- 2. paribus latin phrase meaning “other things equal”
- 5. measure of a variable’s sensitivity to a change in another variable
- 8. consumers willingness to pay a price for a good
- 11. process of combining various materials
- 13. market that is dominated by only a few large firms
- 14. income of employees
- 15. first branch of economics
- 16. employees
- 17. desires
- 19. state where supply and demand are balanced
- 20. lack of resources
Down
- 1. utility consumer gains from consuming one good
- 3. opposite of equilibrium
- 4. properties
- 6. goods that producers are willing to provide
- 7. necessities
- 9. second branch of economics
- 10. market structure characterized by single seller
- 12. investment
- 18. greek prefix word “mikro”