Microeconomics: Competitive Markets 5.0 / 5 based on 1 rating ? Business Studies & EconomicsMicroeconomics, Competitive Markets, Supply & Demand ASOCR Created by: SimoneCreated on: 03-11-13 16:20 1054372168 Across 1. demand of an individual buyer (10, 6) 6. the quantity of a product that consumers are willing and able to buy at different market prices over a period of time, all else being equal (6) 7. the quantity of a product producers are willing and able to supply at each market price over a period of time (6) 8. shows the relationship between the price and the quantity supplied (6, 5) Down 2. the extra amount a consumer is willing to pay above the price that has been paid (8, 7) 3. total demand in a whole market - sum of individual demand curves (6, 6) 4. Demand arising from just wanting a product - not backed by purchasing power (8, 6) 5. market in which a large number of producers compete to satisfy the wants and needs of a large number of consumers (11, 7) 7. the data used to draw up the supply curve of a product (6, 8) 10. states there is an inverse relationship between the quantity demanded and the price, ceteris paribus (3, 2, 6)
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