U3 Choice Board

5. Good that consumers demand less when their income increases.
6. Goods that are used in place of one another.
7. Good that consumers demand more when their income increases.
9. Measure of how a consumer reacts to change in price.
11. Demand that is not very sensitive to price changes; a small change in price causes a small change in quantity demand.
12. The amount of good & services people are willing and able to purchase at various prices during a specific time period.

1. An increase in prices causes a decrease in quantity demand, a decrease in price causes increases in quantity demand.
2. A table that list the quantity of a good a person will buy at various prices in market.
3. Satisfaction a person receives from a good or services.
4. Demand who elasticity is exactly equal to 1.
8. Amount of money a company receives from selling goods or services.
10. A graphic representation of demand schedule.