Across
- 2. is a legal minimum on the price at which a good can be sold.
- 5. in economics, refers to the total amount of money received by sellers of a good or service when it is sold to buyers. It is computed as the price of the good multiplied by the quantity sold.
- 7. is an economic concept that measures how the quantity supplied of a good responds to a change in the price of that good. It is computed as the percentage change in quantity supplied divided by the percentage change in price.
- 8. of demand is indeed a crucial concept in economics, measuring the responsiveness of the quantity demanded of a good or service to a change in its price. It's calculated as the percentage change in quantity demanded divided by the percentage change in price.
- 9. refers to the manner in which the burden of a tax is distributed or shared among various participants in a market.
Down
- 1. is a concept in economics that measures how the quantity demanded of a good or service responds to changes in consumers' income. It is computed as the percentage change in quantity demanded divided by the percentage change in income.
- 3. is an economic concept that measures how the quantity demanded of one good responds to a change in the price of another good. It is computed as the percentage change in the quantity demanded of the first good divided by the percentage change in the price of the second good.
- 4. is a legal maximum on the price at which a good can be sold.
- 6. a measure of the responsiveness of quantity demanded or quantity supplied to a change in one of its determinants