Economics - Chapter 4

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Across
  1. 1. measure of how consumers react to a change in price
  2. 3. a graphic representation of a demand schedule
  3. 7. the change in consumption resulting from change in real income
  4. 8. statistics of groups of people
  5. 9. good a good that consumers demand less of when their income increases
  6. 11. goods used in place of one another
  7. 14. the total amount of money a firm receives by selling goods or services
  8. 15. the desire to own something and the ability to pay for it
  9. 17. when consumers react to an increase in a good's price by consuming less of that good and more of other goods
Down
  1. 2. a table that lists the quantity of a good a person will buy at each different price
  2. 4. a table that lists the quantity of a good all consumers in a market will buy at each different price
  3. 5. describes demand whose elasticity is exactly equal to 1
  4. 6. laatin phrase that means "all other things held constant"
  5. 10. two goods that are bought and used together
  6. 12. describe demand that is not very sensitive to a change in price
  7. 13. consumers buy more of good when its price decreases and less when its price increases
  8. 16. describes demand that is very sensitive to a change in price
  9. 18. a good that consumers demand more of when their income increases