Across
Down
5. as the amount of people in one place increases 1. quantity supply is greater than the quantity
the demand increases, and vice versa
demand at current price
10. what equals a shift
2. quantity demand is greater than the quantity
12. market relies on interactions between buyers supply
and sellers
3. people wanting to make money; incentive of
13. shows relationships between price and quantity living in a market economy
demand
4. price of input, number of firms in industry, taxes
16. similar product of more or less price
and technology are called this
18. legal minimum price below which a good or 6. population increases demand increases, and
service may not be sold
vice versa. population and demand are directly
related
7. two goods that people buy one of and feel
obligated to buy the other
8. chart shown in the law of demand
9. improvement or use of science to make new
methods to help something old work faster and
or better
11. price does not shift demand, increase
demand= more quantity
14. more firms in a industry, more quantities
supplied at every price.
15. how much will someone buy at a specific
price.
17. legal maximum price that may be charged for
a particular good or service
19. when the price, supply and demand all meet
at one point of the graph
20. economic rule stating that price and quantity
supplied more in the same direction
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