Across
- 2. the point of balance where supply and demand come together
- 3. the amount of "stuff" that is produced by firms and offered for sale
- 6. quantity supplied is greater than quantity demanded at current price (surplus)
- 7. the price of any good adjust to equilibrium (shortages/surpluses are short-lived market conditions)
Down
- 1. a table that lists how much of a product a firm(s) will supply at different prices
- 4. the value of a product as established by supply and demand (a link between producers and consumers)
- 5. quantity demanded is greater than quantity supplied at current price (shortage)