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Unit 3 Supply and Demand

Words may be plural or singular.
Relates to Topic (chapter) 3 of your textbook.
Every box contains a letter--no hyphens,spaces etc.

Horizontales
You get this when the supply of an item is greater than the demand for it (3.7)
The Law of Demand is based on the "substitution effect" and the _____ ______ (3.1)
"Demand" isn't just the desire to own something, but also the ability to _____ __ __ (3 words) (3.1)3.1
This approach to limiting the cost of apartments was adopted by New York City in the 1940's (3.7)
It occurs when supply is balanced with demand, and prices remain stable (3.7)
It states that producers offer more of a good or service as prices rise and less as prices fall (3.4)
Buying chicken because steak is too expensive reflects this demand concept (3.1)
Reflects a shift of the ENTIRE demand curve (3.2)
The type of goods you would buy LESS of if you were making MORE money (3.2)
Last name of the author of "Wealth of Nations," one of the most influential books ever written about economics (3.9)
Describes the opportunity costs (in time and money) that result from having go to different stores or businesses to find something you want (3.8)
Availability of substitutes, change over time, and relative importance are all factors that affect _________(3.3)
The amount of a good or service that is available (3.4)
In 2000, the digital version of this consumer product accounted for only 18% of total sales. Now they account for 99% of sales (3.8)
The most famous law in all of economics (3.1)
Verticales
Change in Quantity Demanded is always related to a change in _____ (3.1)
Refers to the statistical characteristics of a population, such as age, race, occupation etc (3.3)
It's what you get when you graph the data points in a supply schedule (3.4)
The type of goods you would buy MORE of if your income increased (3.2)
Goods that are often bought and used together, like milk and cereal (3.2)
Latin for "all other things held constant"(3.2)
This is created by listing, in chart form, the amount of a good a person is willing to buy a various price points (3/1)
It's the direction a supply curve shifts when there is a decrease (3.6)
This type of tax is often placed on things like cigarettes and alcohol to discourage their use (3.6)
It's what happens when the quantity demanded is greater than the quantity supplied (3.7)
The economic agency that organized and managed the Soviet Union's complex centrally planned economy (3.9)