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Microeconomics crossword
Try completing the crossword below on microeconomics terms and definitions
Across
1. A maximum price set by the government or a regulatory authority
6. One variable is unresponsive to changes in another
8. The responsiveness of the demand for one good to changes in the price of another
9. The difference between the minimum price a producer would accept to supply a given quantity of a good and the price actually received
10. A price elasticity of demand value of zero.
12. The right goods are being produced for the right people at the right price
13. The value of the price elasticity of demand for a demand curve that is a rectangular hyperbola
14. A payment made to firms or consumers designed to encourage an increase in output
Down
2. A good where an increase in income leads to a fall in the quantity consumed
3. The value of the next best alternative foregone
4. A means for allocating resources through demand and supply in a market arriving at an equilibrium price
5. The amount that someone is willing and able to buy of a good or service at any given price level over a period of time
6. Taxes on expenditure
7. Two goods consumed at the same time
11. A good is responsive to a change in another variable