Across
- 3. the total amount of money a company receives by selling goods or services
- 6. the cost of operating a facility, such as a factory or a store
- 7. a measure of how consumers respond to price changes
- 12. A chart that lists how much of a good all suppliers will offer at various prices
- 16. a measure of the way quantity supplied reacts to a change in price
- 17. describes demand that is very sensitive to a change in price
- 18. government intervention in a market that affects the production of a good
- 19. a government payment that supports a business or market
- 22. A factor that can change
- 24. the additional income from selling one more unit of a good
- 25. a good that consumers demand less of when their incomes increase
- 27. the sum of fixed costs plus variable costs
- 28. when consumers react to an increase a goods prices by consuming less of that good
- 31. describes demand whose elasticity is exactly equal to 1
- 32. describes demand that is not very sensitive to price changes
- 33. a good that consumers demand more of when their incomes increase
- 34. The amount that a supplier is willing and able to supply at a specific price
- 35. a tax on the production or sale of a good
- 36. the desire to own something and the ability to pay for it
- 38. the total cost divided by the quantity produced
- 39. a cost that does not change, no matter how much of a good is produced
Down
- 1. consumers will buy more of a good when its price is lower and less when the price is higher
- 2. producers offer more of a good as its price increases and less as its price falls
- 4. a cost that rises or falls depending on the quantity produced
- 5. graphic representation of a demand schedule
- 8. a level of production in which the marginal product of labor increases as the number of workers increases
- 9. two goods that are bought and used together
- 10. the amount of goods available
- 11. a table that lists the quantity of a good all consumers in a market will buy
- 13. a level of production at which the marginal product of labor decreases as the number of workers increases
- 14. A chart that lists how much of a good a supplier will offer at various prices
- 15. the cost of producing one more unit of a good
- 20. goods that are used in place of one another
- 21. a table that lists the quantity of a good a person will buy at various prices
- 23. A graph of a quantity supplied of a good by all suppliers at various prices
- 26. the change in output from hiring one additional unit of labor
- 29. A graph of the quantity supplied of a good at various prices
- 30. the change in consumption that results when a price increase causes real income to decline
- 37. the statistical characteristics of populations and population segments