Economics Chapter 3

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Across
  1. 4. any place people come together to trade
  2. 5. a condition in which the quantity demanded is great than the quantity supplied
  3. 7. as the price of a good rises, the quantity demanded of the good falls, and as the price of a good falls, the quantity demanded of the good rises
  4. 10. a condition in which the quantity supplied is great than the quantity demanded
  5. 11. two goods that satisfy similar needs or desires
  6. 13. means "at rest", or in a market is the price-quantity combination from which buyers or sellers do not tend to move away
  7. 14. a good for which demand rises (falls) as income rises (falls)
  8. 15. the willingness and ability of sellers to produce and offer to sell different quantities of a good at different prices during a specific period
  9. 16. two goods that are used jointly in consumption
Down
  1. 1. the price of a good
  2. 2. a good for which demand does not change as income rises or falls
  3. 3. the willingness and ability of buyers to purchase different quantities of a good at different prices during a specific period
  4. 6. a good for which demand falls (rises) as income rises (falls)
  5. 8. a state of either surplus or shortage in a market
  6. 9. a monetary payment by government to a producer of a good or service
  7. 12. as the price of a god rises, the quantity supplies of the god rises, and as the price of a good falls, thee quantity supplied of the good falls