Chapter 3 Supply and Demand Crossword

the amount of some good or service a producer is willing to supply at each price
the total number of units of a good or service producers are willing to sell at a given price
assuming all other variables that affect supply are held constant
a table that shows the quantity supplied at a range of different prices
a graphic illustration between price and quantity (price on vertical axis, quantity on horizontal axis)
the combination of price and qantitiy where there is no economic pressure from surpluses or shortages that would cause price or quantity to change
the price where quantity demanded is equal to quantity supplied
at the existing price, quantity supplied exceeds the quantity demanded
at the exisiting price, the quantity demanded exceeds the quantity supplied
Latin phrase meaaning "other things being equal"
when a change in some economic factor causes a different quantity to be deamded at every price
a product whose demand rises when income rises, and vice versa
a product whose demand falls when income rises, and vice versa
a good or service that we can use in place of another good ro service
goods or serices taht are often used together so that consumption of one good tends to enhance consumption of the other
when a cnage in some economic factor causes a different quantity to be supplied at every price
the combination of labor, materials, and machinery that is used to produce goods and services
laws that governments enact to regulate prices
the area above the market price and below the demand curve
the area between the market prie and the segment of the supply curve below the equilibrium
consumer suplus + producer surplus
the loss in social surplus that occurs when a merket produces an inefficient quantity