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Supply and Demand

Chelsea Nelson

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Across
3.The state in which market supply and demand balance eachother and, as a result prices become stable.
8.Takes place when a consumer reacts to a rise in the price of one good by consuming less of that good and more of a substitution good.
11.A table that lists the quantity of a good that a person will purchase at various prices in a market.
12.A shift in a demand or supply curve occurs when a good's quantity demanded or supplied changes even though price remains the same.
13.refers to how much quantity of a product or service is desired by buyers.
14.demonstrates the quantities that will be sold at a certain price.
15.EX: If you buy fewer slices of pizza without increasing your purchases of other foods.
Down
1.theories, demand and supply will allocate resources in the most efficient way possible.
2.Shows the quantity demanded at various prices by all consumers in the market.
4.states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good.
5.A movement refers to a change along a curve.
6.Excess demand is created when price is set below the equilibrium.
7.Occurs whenever the price or quantity is not equal to P* or Q* .
9.The supply relationship is a factor of time
10.represents how much the market can offer.

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