JA Chp. 3 Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
| Question | Answer |
| The quantity of goods and services a person can buy with a given amount of money. | buying power |
| Products that often are used together. | complementary goods |
| Quantities of a particular good or service consumers are willing and able to buy at different prices at a particular time. | demand |
| The point reached when an additional unit of a product consumed is less satisfying than the one before it. | diminishing marginal utility |
| A good for which quantity demanded falls as income increases. | inferior good |
| An inverse relationship between the quantity demanded and the price of a product. | law of demand |
| The total of all individual demands in a given market at a particular time. | market demand |
| A good for which the consumer’s demand increases as income increases. | normal good |
| The inclination of people to buy less of something at higher prices than they would buy at lower prices. | price effect |
| A measure of the impact of the price effect. | price elasticity of demand |
| A good or service that can replace another good or service. | substitute |
| The usefulness or satisfaction that consumers get from consuming goods and services. | utility |
Created by:
pinetreeacademy
Popular Economics sets