combination of desire, ability, and willingness to buy a product
branch of economic theory that deals with behavior & decision making by small units such as individuals & firms
graph showing the quantity demanded of a product at each and every possible price that might prevail in the market at a given time
rule stating that more will be demanded at lower prices and less at higher prices; inverse relationship b/w price and quantity demanded
change in quantity demanded movement along the demand curve showing that a different quanity is purchased in response to a change in price income effect the portion of a change in quantity demanded caused by a change in a consumer's real income when the price of a product changes
competing products that can be used in place of one another; products related in such a way that an increase in price of one increases the demand for the other
complements products that increase the value of other products; products related in such a way that an increase in the price of one reduces the demand for both elasticity a measure of responsiveness that tells us how a dependent variable such as quantity responds to a change in an independent variable such as price
demand elasticity measure of responsiveness relating change in quantity demanded (dependent variable) to a change in price (independent variable) elastic type of elasticity where the percentage change in the independent variable (usually price) causes a more than proportionate change in the dependent variable (usually quantity demanded or supplied)
elastic type of elasticity where the percentage change in the independent variable (usually price) causes a more than proportionate change in the dependent variable (usually quantity demanded or supplied) inelastic type of elasticity where the percentage change in the independent variable (usually price) causes a less than proportionate change in the dependent variable (usually quantity supplied or demanded)
unit elastic elasticity where a change in the independent variable (usually price) generates a proportional change of the dependent variable (quantity demanded or supplied) supply schedule of quantities offered for sale at all possible prices in a market
graphical representation of the quantities produced at each and every possible price in the market
market supply curve supply curve that shows the quantities offered at various prices by all firms that sell the product in a given market quantity supplied amount offered for sale at a given price; point on the supply curve
change in supply different amounts offered for sale at each & every possible price in the market; shift of the supply curve subsidy gov. payment to encourage or protect a certain economic activity
theory of production theory dealing with the relationship between the factors of production and the output of goods and services short run production period so short that only variable inputs can be changed
unprocessed natural resources used in production
total output or production by a firm
cost of production that does not change when output changes
production cost that varies as output changes; labor, energy, raw materials
total cost variable plus fixed cost; all costs associated with production marginal cost extra cost of producing one additional unit of production
e-commerce electronic business or exchange conducted over the internet total revenue total receipts; price of goods sold times quantities sold
Crossword puzzles have been published in newspapers and other publications since 1873. They consist of a grid of squares where the player aims to write words both horizontally and vertically.
Next to the crossword will be a series of questions or clues, which relate to the various rows or lines of boxes in the crossword. The player reads the question or clue, and tries to find a word that answers the question in the same amount of letters as there are boxes in the related crossword row or line.
Some of the words will share letters, so will need to match up with each other. The words can vary in length and complexity, as can the clues.
The fantastic thing about crosswords is, they are completely flexible for whatever age or reading level you need. You can use many words to create a complex crossword for adults, or just a couple of words for younger children.
Crosswords can use any word you like, big or small, so there are literally countless combinations that you can create for templates. It is easy to customise the template to the age or learning level of your students.
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For a quick and easy pre-made template, simply search through WordMint’s existing 500,000+ templates. With so many to choose from, you’re bound to find the right one for you!
Once you’ve picked a theme, choose clues that match your students current difficulty level. For younger children, this may be as simple as a question of “What color is the sky?” with an answer of “blue”.
Crosswords are a great exercise for students' problem solving and cognitive abilities. Not only do they need to solve a clue and think of the correct answer, but they also have to consider all of the other words in the crossword to make sure the words fit together.
If this is your first time using a crossword with your students, you could create a crossword FAQ template for them to give them the basic instructions.
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Crosswords are a fantastic resource for students learning a foreign language as they test their reading, comprehension and writing all at the same time. When learning a new language, this type of test using multiple different skills is great to solidify students' learning.
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