Economics Demand

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Across
  1. 3. The principle that, other things equal an increase in a products price will reduce the quantity of it demanded, and conversely for a decrease in price
  2. 4. The total amount of a good or service that consumes demand over a given interval of time
  3. 5. To measure the change in the aggregate quality demanded of a good or service in relation to price movements of that good or service
  4. 6. A table of numbers showing the amounts of a good or services buyers are willing and able to purchase at various prices over a specified period of time
  5. 10. The amount by which the quantity supplied of a product exceeds the quantity demanded at a specific price
  6. 12. The ratio of the percentage change in quality demanded of a product or resource to the percentage change in its price; a measure of the responsiveness of buyers to a change in the price of a product or resource
  7. 14. A legally established minimum price for a goo, or service. Normally set at a price above the equilibrium price
  8. 15. The extra utility a consumer obtains from the consumption of one additional unit of a good or service; equal to the change in total utility divided by the change in the quantity consumed
  9. 16. Effect of a change in the price of a good upon the amount of that good demanded by a consumer, the other being the income effect
Down
  1. 1. The principal that as a consumer increases the consumption of a good or service, the marginal utility obtained from each additional unit of the good or service decreases
  2. 2. An insistent and peremptory request made as if by right
  3. 7. A graph showing how the demand for a commodity, or service varies with changes in its price
  4. 8. A good whose appeal increases with the popularity of its complement
  5. 9. The want satisfying power of a good or service; the satisfaction of pleasure a consumer obtains from the consumption of a good or service
  6. 11. A legally established maximum price for a good, or service. Normally set at a price below the equilibrium price
  7. 13. The limiting of goods or services that are in high demand and short supply