Demand and supply

?
M D D S O U L A R G B W I O G B S A I Q P
M T N E J O W I L K O E W N W R T C T S S
P Q E I Q W I Q O H D G X Y F Q A O B E N
J E C T D G G A W A D N W R Y L T M E A F
Q K O I K T H T T B C A M T L I U P U D F
X O N S M Q V R T B Y H S N P N T E U C O
L D O S E I W S D I F C I E P T O T N O M
S F M E R H L P O T D X N O U P R I C A S
L H I C G O S T T F K E A T S A Y T J Q Q
W D E E E Q C N W O T F H S D L M I C R A
G K S N S K E X P R K O C R O W O V R R A
U D O S T N A E D M K M E E I X N E Q H B
P W F E A E R S U I E U M I R L O M H S K
B K S I K O G F Q N D I T R E K P A B N Y
C A C R E M Y P V G C D E R P E O R O X X
T W A U O H I L I G C E K A E X L K N D C
Y V L X V M L J Y O C M R B M F O E T N X
E I E U E B V X R O U E A S I W Y T E O Q
T G B L R B C S W D U V M R T Y D F S A B
G O X N S I I G E S I R U K H G Y Y R N F
O H K P J V K H R V C H Y B P A W J X H T

Clues

  • a market situationin which there are a large number of buyers (demand) and sellers (supply). (11, 6)
  • a private owner ship of business which can make profit/interacting with the desires of consumers. Demand and supply interaction to allocate resources. (6, 9)
  • Cigarettes and drugs usually have inelastic demand because people become dependent on them so will continue purchasing it even if it becomes more expensive. (6, 7, 5)
  • Like demand, goods and services have fairly inelastic supply in the short term but in the long term supply can become more elastic as it can alter its scale of production. (4, 6, 6)
  • loans and mortgages- paying something back in chunks in a certain time. (6, 2, 8)
  • Necessities are more inelastic because people need them to live(food) luxuries are more elastic because people don’t need them and will be likely to forgo them (19)
  • occurs when key industries are given monopoly status by the government. (9, 9)
  • ways in which firms try to stop other firms such as a patent (8, 2, 5)
  • when two firms come together to form one so consumers don’t ahve as much choice or when one firm buys or takes over another firm (15)
  • where a firms average costs are low because the firm is very big (9, 2, 5)

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