Across
- 1. amount of satisfaction a good or service will provide a customer
- 4. good or service that buyers are ready to buy at a given price at a particular time
- 8. A function of relative prices that determines who gets the goods and services
- 10. minimum price producers are willing and able to receive for a product
- 11. function of relative prices that encourages producers to change and reallocate their resources
- 12. a good or service that sellers are able and willing to offer for sale at a specified price
- 13. One price compared to another; the ratio between two prices
- 14. Any circumstance under which buyers and sellers exchange goods or services for a price
Down
- 2. The situation that exists when demand is greater than supply
- 3. Equilibrium price
- 5. People who use goods and services to satisfy their wants
- 6. amount of money paid for a good, service, or resource
- 7. a business owner receives for taking the risk involved in investing in a business
- 9. people who make or provide goods and services