1.2 How Markets Work
- Created by: tomstodd23
- Created on: 09-05-18 11:51
O | X | P | V | D | C | J | P | E | R | C | E | N | T | C | H | A | N | G | E | N |
W | N | P | Q | U | D | S | A | A | O | O | E | Y | V | K | M | S | D | V | S | H |
X | E | D | I | N | T | E | R | P | R | E | T | A | T | I | O | N | L | S | Y | S |
G | C | F | B | M | P | U | T | R | X | F | L | X | R | T | Q | W | B | Y | C | Q |
S | N | C | D | I | N | D | I | R | E | C | T | T | A | X | G | S | V | Y | D | Q |
A | G | C | D | Y | X | F | B | M | F | K | W | K | X | W | A | R | B | S | T | J |
L | T | U | P | J | T | J | E | U | G | M | S | S | H | R | Q | Y | X | O | Y | G |
P | G | J | J | H | S | Q | G | L | P | E | O | K | C | U | J | T | E | S | C | M |
J | B | Q | P | E | D | F | O | R | M | U | L | A | I | S | F | T | D | H | W | C |
G | A | X | U | C | L | R | U | H | U | X | W | K | G | D | W | X | F | I | I | B |
Y | P | F | M | D | V | D | A | O | Y | T | H | G | Q | H | T | U | O | W | M | S |
Y | E | D | I | N | T | E | R | P | R | E | T | A | T | I | O | N | R | B | K | A |
S | R | V | I | N | E | L | A | S | T | I | C | G | O | O | D | S | M | T | F | D |
V | E | Q | G | F | B | H | Q | N | P | R | O | T | C | T | U | K | U | I | B | Q |
P | R | O | D | U | C | E | R | S | U | R | P | L | U | S | E | U | L | B | N | J |
T | W | N | S | N | P | T | O | P | B | X | A | A | O | Y | P | B | A | U | Y | B |
X | R | D | U | S | M | W | M | R | N | C | X | O | P | G | S | H | X | U | N | G |
Q | E | L | A | S | T | I | C | G | O | O | D | S | I | O | Y | U | C | F | S | J |
C | V | C | O | N | S | U | M | E | R | S | U | R | P | L | U | S | C | E | B | R |
D | C | S | P | L | L | O | S | E | B | O | N | J | E | A | M | G | H | P | T | D |
A | I | I | D | S | U | I | Y | G | V | C | V | A | X | J | F | Y | O | B | N | H |
Clues
- %change in quantity demanded/ %change in price (3, 7)
- %change in the Quantity demanded of Product A/ %change in the price of product B (3, 7)
- Difference/ First figure x 100 (7, 6)
- If XED is positive then the products are substitute, if its negative then the products are complements. (3, 14)
- If YED is positive then goods are classed as normal goods, if YED is negative then goods are classed as inferior. (3, 14)
- Luxury, lots of competition (7, 5)
- No substitutes, necessities, addictive (9, 5)
- The difference between the actual market price and the price that they were willing to supply at. (8, 7)
- The difference between the price the customer is willing to pay and the price that they do pay. (8, 7)
- When tax is applied per unit or volume sold. (8, 3)
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