Type
Crossword
Description

A Latin phrase that means "all other things held constant" Ceteris paribus-
Two goods that are bought and used together Complements
The desire to own something and the ability to pay for it demand
A graphic representation of a demand schedule Demand Curve
Demand Schedule- A table that lists the quantity of a good a person will buy at each different price Demand Schedule
demand that is very sensitive to a change in price Elastic Describes
Describes demand that is very sensitive to a change in price Inelastic
A measure of how consumers react to a change in price Elasticity of Demand
The change in consumption resulting from a change in real income Income Effect
statistical characteristics pf p[populations and population segments. Demographics
Good A good that consumers demand less of when their income increases Inferior
States that consumers buy more of a good when its prices decrease and less when its prices increase Law of Demand
A table that lists the quantity of a good all consumers in a market will buy at each different price Market Demand Schedule
a good that consumers demand more of when their income increases Normal Good
Goods used in place of one another Substitutes
The change in consumption resulting from a change in the price of a substitute good Substitution Effect
The total amount f money a firm receives by selling goods and services Total Revenue
Describes demand whose elasticity is exactly equal to 1 Unitary Elastic

Supply and Demand Crossword

Type
Crossword
Description

The amount of goods available. Supply
When producers offer more of a good as its price increases. law of supply
The amount that a supplier is willing and able to supply at a specific price. Quantity supplied
A cost that rices or falls depending on the quantity produced. Variable cost
A cost that does not change. fixed cost
A tax on the production or sale of a good. Excise tax
The sum of fixed costs plus variable costs. Total cost
The cost of producing one more unit of a good. marginal cost
The total cost divided by the quantity produced. Average cost
The cost of operating a facility such as a factory or a store. Operation cost
The desire to own something and the ability to pay for it. Demand
To buy more of a good when its price is lower. law of demand
when consumers react to an increase in a goods price by consuming less. Substitution effect
The change in consumption that results when a price increases causes real income to decline. income effect
A table that lists the quantity of a good a person will buy at various prices in a market. Demand schedule
A table that lists the quantity of a good all consumers in a market will buy at various prices. market demand
a graphic representation of a demand schedule. demand curve
A good that consumers demand more when their incomes increases. normal good
A good that consumers demand less of what their incomes increase. Inferior good
The statistical characteristics of population and population segments. demographics
A measure of how consumers respond to price change. Elasticity of demand
The total amount of money a company receives by selling goods or services. total revenue

Economics Chapter 4 Crossword

Type
Crossword
Description

Describes the various amounts of a product that someone is willing and able to buy over a range of prices demand
a listing that shows the quantity demanded at all possible prices. demand schedule
Price goes up-Demand goes Down, Price goes down-Demand goes up. Law of Demand
graph showing the quantity demanded at every possible price demand curve
extra usefulness or satisfaction marginal utility
movement along the demand curve is called a ______________ in quantity demanded change
when consumers alter their quantity demanded based their incomes not buying as much. income effect
when the demand curve shifts to the right or left Change in demand
goods used in place of on one another substitutes
goods that are used together compliments
measures the responsiveness a consumer reacts to a price change Elasticity
Goods that you will keep buying despite a price increase has ____________ demand inelastic

Economics Demand Crossword

Type
Crossword
Description

change in price elastic
the amount of money a company recieves total revenue
to describe how responsive consumers are elasticity of emand
when a change causes consumers to buy different change in demand
purchasing power of income changes income effect
when a consumer purchase a substitute substitute effect
a graph showing how much a consumer will buy demand curve
a graph that shows what a consumer will buy at each price market demand curve
desire to have a good or service and the ability to pay for it demand
states that when the price of a good or service falls consumers buy more law of demand

Supply and Demand Crossword

Type
Crossword
Description

When a good's price is lower, consumers will buy more of it. When the price is higher, consumers will buy less of it. law of demand
The desire to own something and pay for it. demand
A graphic representation of a demand schedule. demand curve
Table that lists the the quantity of a good that a person will purchase at various prices in a market. demand schecule
The amount of money the receives by selling it's goods. total revenue
The amount of goods available. supply
Producers offer more of a good as its price increases and less as its price falls. law of supply
the amount that a supplier is willing and able to supply at a specific price. quantity supplied
A graph of the quantity supplied of a good at various prices supply curve
The sum of fixed costs plus variable costs total cost
The cost of producing one more unit of a good. marginal cost
The total cost divided by the quantity produced. average cost
Government intervention in a market that affects the production of a good. regulation
The change in consumption that results when a price increase causes real income to decline income effect

Supply and Demand Crossword

Type
Crossword
Description

economic rule stating that price and quantity supplied more in the same direction law of supply
the amount of goods that a producer is willing and able to supply at a specific price quantity supplied
price does not shift demand, increase demand= more quantity changes in demand
the effect it has on demand is it refers on what people like and don't like. changes when item is more or less popular fad
as the amount of people in one place increases the demand increases, and vice versa population
higher or more taxes on supplies that is need to produce a product mean it is not able to supply because of cost production. taxes
improvement or use of science to make new methods to help something old work faster and or better technology
people wanting to make money; incentive of living in a market economy profit incentive
when the price, supply and demand all meet at one point of the graph equilibrium
price of imput, number of firms in industry, taxes and technology are called this determinants of supply
what equals a shift determinants
similar product of more or less price substitute good
two goods that people buy one of and feel obligated to buy the other complementary goods
quantity demand is greater than the quantity supply shortage
quantity supply is greater than the quantity demand at current price surplus
legal minimum price below which a good or service may not be sold price floors
legal maximum price that may be charged for a particular good or service price ceilings
chart shown in the law of demand demand schedule
shows relationships between price and quantity demand demand curve
population increases demand increases, and vice versa. population and demand are directly related changes in pop
a producer can supply more at a lower production cost. raw materials and wages are examples. price of input
more firms in a industry, more quantities supplied at every price. num of firms
if a price increases, then Qd decreases and vice versa. law of demand
how much will someone buy at a specific price. Qd
market relies on interactions between buyers and sellers voluntary exchange

Microeconomics Crossword

Type
Crossword
Description

A diagram used to represent the monetary transactions in an economy. Circular Flow Diagram
The market place in which final goods or services are offered for purchase by consumers, businesses and public sector. Product market
A type of business entity that's owned and run by one person. Sole proprietorship
A type of business owned or run by two owners. Partnership
A financial gain. Profit
A company or group of people authorized to act as single entity. Corporation
A state of limited competition, in which a market is shared by a small number of producers. Oligopoly
Only one market gives services Monopoly
A type of market that sells similar products. Monopolistic Competition
The part of economics concerned with single factors and the effects of individual decisions. Microeconomics
A market where a business can go and purchase resources to produce goods and services Resource Market
Buyers will exchange with sellers when they want to purchase goods or services from sellers. Medium of exchange
All else equal, an increase n price results in an increase in quantity supplied Law of Supply
All other factors being equal, as the price of a good or service increase Law of Demand
Price of good or service of which quantity supplied is equal to quantity demand Market clearing price
A measure used in economics to show the responsiveness of the quantity demanded of a good or service to change in its price Price elasticity of demand
A measure used in economics to show the responsiveness or elasticity of the quantity supplied of a good or service to a change in price. Price elasticity of Supply
A market that has a broad range of cometitors who are selling identical products Pure Competition
Something that motivates or encourages someone to do something Incentive
An excess of production Surplus

Economics Supply and Demand Crossword

Type
Crossword
Description

a move along a demand curve to the left contraction
the amount a customer is willing to pay for a good price
given by government to encourage more production of a good and lower price subsidy
determinant of supply weather
quantity a producer is willing and able to produce at a given price in a given period supply
this occurs when firms leave the industry supply decreases
customers become concerned about the production effects of a product on the ........... environment
this occurs as a result of improved productivity increase in supply
the amount a person is willing and able to pay for a good effective demand
government imposes an ........ ... which is then used to educate people about the dangers of the good indirect tax
price achieved in market increases (from producer's point of view) extension in supply
tastes shift towards the good concerned demand increase
mathematical relationship between price and quantity demanded inverse
determinant that increases demand when it increases income
type of good when increase in price of one good (A) causes demand for another good (B) to increase substitute
should interest rates on credit cards increase, demand for holidays ..... falls
a firm stops paying overtime leading to lowered ..... .. .......... costs of production
coffee with cream is example of these goods complementary
customers buy more of these goods when their income decreases inferior
innovation in computers - supply determinant technology

Supply and Demand Crossword

Type
Crossword
Description

Desire to have some goods or service and the ability to pay for it. Demand
Graph that shows how much of a good or service an individual will bring at each price. Demand Curve
Table that shows how much of a good or service an individual is willing and able to buy at each price. Demand Schedule
Describes how responsive consumers are to price changes in the market place. Elasticity of Demand
When a change in price leads to a relatively smaller change in the quanitity demanded. Inelastic
Term used for a change in the amount of a product that a consumer will buy because the purchasing power of their income change. Income Effect
States that when the price of a good or service falls, consumers buy more of it. Law of Demand
Shows the data found in the market demand schedule. Market Demand Curve
Shows how much of a good or service all consumers are willing and able to buy at each price in market. Market Demand Schedule
Goods that consumers demand more of when their income rise. Normal Goods
Goods and services that can be used in place of other goods and services to satisify consumer wants. Substitutes
Use of one product increased the use of another product Complements
Amount of money a company receives for selling its products. Total Revenue
Consequence of specializaation or labor Interdependdency
Each new worker causes total output to grow but at a decreasing rate. Diminishing Returns
Measure of how responsive producers are to a price change in the market place. Elasticity of Supply
Expenses that the owners of a business must incur whether they produce a good or service Fixed Cost
price of the resources needed tp produce a good or service. Input costs
States that producers are willing to sell more of a good or service at a higher price Law of supply
Additional cost of producing one more unit of their product Marginial Cost

Supply and Demand Word Search

Type
Word Search
Description

marginal utility
substitution effect
real income effect
law of demand
voluntary exchange
market
supply
demand
demand schedule
demand curve
complementary goods
elasticity
elastic demand
inelastic demand
technology
supply curve
supply schedule
law of supply
equilibrium price
shortage
surplus
price ceiling
rationing
black market
price floor

Supply and Demand Crossword

Type
Crossword
Description

Represents how much the market can offer Supply
a numerical chart that illustrates the law of supply Supply schedule
a graph that shows the amount of a product supplied at all possible prices Supply Curve
suppliers will normally offer more for sale at higher prices and less for sale at lower prices law of supply
the total supply schedules of all businesses that provide same gender services Market supply
in cost of resources, technology, taxes and subsidies, productivity, government policies Changes in supply
a government payment to an individual business or other group for certain actions subsidies
the degree to which resources are being used efficiently to produce goods and services Productivity
measure of how much quantity supplied of a good or service changes in response to changes in price supply elasticity
government set maximum price for good-rent price ceiling
the desire, willingness, and ability to purchase a good or service Demand
a table that lists the various quantities of a product or service that someone is willing to buy over a range of possible prices Demand schedule
a graph that shows the amount of product that would be bought at all possible market prices demand curve
the total demand of all consumers for their product or service Market demand
quantity demanded and price move in opposite directions law of demand
competing products that can be used in place of one another substitutes
products that are used together compliments
the extent to which a change in price causes a change in the quantity demanded Demand elasticity
price changes that have very little effect on these products-medicine demand inelastic
usefulness a consumer gets from using the product utility