Key Concepts of Demand/Supply

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Across
  1. 1. how much it takes for a business to either get a good produced or service ready to sell in the market
  2. 3. when the demand curve shifts inwards or outwards
  3. 4. unlimited or infinite desires that consumers have for goods or services that are not backed by the ability to pay
  4. 5. quantity of a good or service an individual is willing and able to buy at various prices and is a desire backed by the ability to pay and therefore limited or finite
  5. 7. quantity of a good or service a supplier will willingly bring to the market at a range of prices
  6. 10. the price of a good or service increases, the quantity supplied increases
  7. 12. cause a supply curve to shift to an entirely new position, either inward or outward
  8. 14. when the supply curve shifts inwards or outwards
  9. 15. Latin phrase that means the other way around
  10. 16. determined by the market forces of demand and supply and is how much a customer will pay in order to have the good or service
Down
  1. 1. change in the specific quantity of a good that sellers are willing and able to sell
  2. 2. goods and services that are used together
  3. 6. goods and services that can be used in place of each other
  4. 8. change in the specific quantity of a good that buyers are willing and able to buy
  5. 9. the price of a good or service decreases, the quantity demanded increases
  6. 11. causes a movement along an existing curve
  7. 13. Latin term that means holding any other factors unchanged