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Econ #6 2020

Name ________________________
Date _________________
Period #_____
Across
____ elasticity means that the % change in price is equal to the % change in QD.
Necessities tend to have very ___ demand.
As people's income increases so does the demand for ____ goods.
The Latin terms for all other things remain constant is?
Hot dogs and ketchup are examples of the economic concept of?
A perfectly vertical demand curve represents a very ___ demand.
___ of demand is the economic principle that measures the extent of consumer response to changes in price.
Inelastic markets are not very ___ to changes in price.
As people's income increases they demand less of ___ goods.
Down
When the price of a preferred good increases consumers tend to turn to ___ goods.
Luxury goods tend to have very ___ demand.
Price multiplied by quantity equals ____ revenue.
Age, gender and race are all examples of specific?
Total revenue divided by quantity = ___ price.
When the price of preferred goods increases the demand for ___ goods increase as a result.