Across
- 4. A market or economy with missed opportunities without making others worse off.
- 5. Total amount of the good that can be legally transacted.
- 10. If price elasticity of demand is exactly 1.
- 12. A minimum price buyers are required to pay for a good.
- 14. If price elasticity of demand is greater than 1.
- 15. Price at which producers will supply that quantity.
- 18. Price at which consumers will demand that quantity.
- 19. If price elasticity demand is less than 1.
- 20. When any price will cause the quantity demanded to drop to zero (Horizontal Line).
- 21. Technique for calculating the percent change.
Down
- 1. Upper limit on the quantity of some good that can be bought or sold.
- 2. Quantity demanded does not respond at all to changes in price (Vertical Line).
- 3. The tax on the sales of a good or service.
- 6. The total value of the sales of a good or service.
- 7. A measure of who actually pays tax.
- 8. Gives owners the right to supply a good.
- 9. Legal floor on wage rate.
- 11. A maximum price sellers are allowed to charge for a good.
- 12. Legal restrictions on how high or low a market price may go.
- 13. A measure of responsiveness to changes in prices or incomes.
- 16. Causes Price paid by buyers to be higher than that received by sellers.
- 17. The difference between the demand and supply price at the quota limit.