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Chapter 4: Demand

Across
Relatively unresponsive, when used to describe consumers' reactions to price changes.
The demand shifter (determinant) most affected by PFD checks.
Tastes and preferences; the most powerful demand shifter (determinant).
When price, and nothing else, changes, it will cause a change in _____ _____.
The amount of money a company receives by selling its goods.
Goods that are used in place of one another.
A table showing the quantities purchased at all prices by all consumers in a market
A description or measurement of how drastically buyers will cut back or increase their purchases of a good when the price rises or falls, respectively.
The shape of the demand curve is ____-sloping.
Goods that are purchased and used together.
Relatively responsive, when used to describe consumers' reactions to price changes.
A graphic representation of a demand schedule
Beliefs about future prices or availability of a product
Down
Consumers react to increases in the price of one good by consuming less of that good and more of an acceptable alternative good.
The Latin phrase that means "all other things held constant."
A table that lists the quantities of goods that a consumer will purchase at various prices in a market.
The place where the mathematical value of elasticity is exactly equal to 1.
The observation that when the price of a good is low, consumers will buy more of it, and when the price of a good is high, consumers will buy less of it.
The statistical characteristics of populations.
The direction in which the curve moves if demand decreases.
The direction in which the demand curve moves if demand increases.
The variable that goes on a demand curve's horizontal axis.
Any place or thing that allows buyers and sellers to meet and make an exchange.
The desire to own something, combined with the ability to pay for it.
The variable that goes on a demand curve's vertical axis.
When demand changes, the curve will _____ to the right or to the left.