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