Supply and Demand Crossword

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