Microeconomics - 2 Crossword Puzzle

QUESTIONS LIST:

• excess demand: there is not enough of a product to meet consumer demand
• market: place to facilitate the exchange or transaction of goods and services
• equilibrium: the quantity of a good or service that consumers are willing to buy (demand) is equal to the quantity that producers are willing to sell (supply)
• inferior good: a good whose demand drops when people's income increases
• consumer surplus: the highest price consumers are willing to pay for a good minus the price paid
• rationing: method of apportioning or parceling out goods and services among consumers or households
• demand: refers to how much of a good or service consumers are willing to buy at a given price
• complements: goods that tend to be used together
• equilibrium price: the price at which the quantity demanded equals the quantity supplied in a market
• law of demand: negative relationship between the price of a good and its quantity demanded over a particular period
• shortage: the quantity demanded is greater than the quantity supplied at the marketplace
• excess-supply: a situation where there is more product than consumers want to buy