Across
- 1. Total revenue minus total cost
- 6. What you expect prices to do in the future can influence your buying habits today.
- 8. Trends and fashions that are highly desirable to the consumer
- 11. A market in which there are many buyers but only one seller.
- 12. The application of scientific knowledge for practical purposes
- 14. Fixed costs plus variable costs
- 16. The change in consumption resulting from a change in real income
- 17. Price x Quantity
- 19. An establishment formed to carry on commercial enterprise
- 20. When consumers react to an increase in a good's price by consuming less of that good and more of other goods
Down
- 1. A legal minimum on the price at which a good can be sold
- 2. A business owned by one person
- 3. A legal maximum on the price at which a good can be sold
- 4. A business owned by stockholders who share in its profits but are not personally responsible for its debts
- 5. A table that shows the relationship between the price of a good and the quantity demanded
- 7. A focus on a particular activity or area of study
- 9. A market structure in which a few large firms dominate a market
- 10. A graph of the relationship between the price of a good and the quantity supplied
- 13. Money received, especially on a regular basis, for work or through investments.
- 15. The cost of producing one more unit of a good
- 18. A business in which two or more persons combine their assets and skills