Across
- 2. refers to a consumer readiness to pay a certain price for goods and services as well as their desire to buy them.
- 4. is the additional output that is produced as a result of the addition of one more unit of input, such as labor.
- 6. A technique used for determining how easily a good's supply is affected by price fluctuations.
- 7. An increase in the cost of goods or services causes their supply to rise.
- 8. not elastic, lacking in resilience or flexibility, and unyielding
- 9. asserts that buyers will seek fewer goods at a higher price.
- 10. a tax imposed by law at the time of purchase on certain products or services
- 11. proportionally less money or effort invested in something results in proportionally smaller profits or rewards.
Down
- 1. the total quantity of a particular commodity or service that is offered to customers
- 3. capable of spontaneously returning to its original shape following contraction, dilation, or distortion.
- 5. the entire revenue a business generates from the sale of its products and services.
- 8. a certain class of good, whose demand declines as consumer income or economic growth rises