1.1.3 - Demand

studied byStudied by 1 person
0.0(0)
learn
LearnA personalized and smart learning plan
exam
Practice TestTake a test on your terms and definitions
spaced repetition
Spaced RepetitionScientifically backed study method
heart puzzle
Matching GameHow quick can you match all your cards?
flashcards
FlashcardsStudy terms and definitions

1 / 10

encourage image

There's no tags or description

Looks like no one added any tags here yet for you.

11 Terms

1
Demand curve
Line drawn on a graph that shows how much of a good will be bought at different prices. 
New cards
2
Demand schedule
Table of the quantity demanded of a good at different price levels
New cards
3
Effective demand
Amount of a good people are willing to buy at given prices over a given period of time supported by the ability to pay 
New cards
4
Inverse relationship
When price increases the price goes up, the quantity demanded falls and vice versa 
New cards
5
Shift in the demand curve
Movement to the left or right of the entire demand curve when there is a change in any factor affecting demand except the price 
New cards
6
Disposable income
Income that is available to someone over a period of time to spend: it includes state benefits but excludes state benefits 
New cards
7
Inferior goods
Goods for which demand will fall if income rises or rise if income falls
New cards
8
Normal goods
Goods for which demand will increase if income increases or fall if income falls 
New cards
9
Substitute goods
Goods bought as an alternative to another but perform the same function
New cards
10
Complementary goods
Goods purchased together because they are consumed together 
New cards
11
Demography
Study of human populations and the way in which they change
New cards

Explore top notes

note Note
studied byStudied by 17693 people
60 days ago
4.5(11)
note Note
studied byStudied by 38 people
376 days ago
5.0(2)
note Note
studied byStudied by 138 people
975 days ago
5.0(1)
note Note
studied byStudied by 2 people
56 days ago
5.0(1)
note Note
studied byStudied by 52 people
805 days ago
5.0(2)
note Note
studied byStudied by 74 people
909 days ago
5.0(1)
note Note
studied byStudied by 42 people
33 minutes ago
5.0(2)

Explore top flashcards

flashcards Flashcard (30)
studied byStudied by 8 people
233 days ago
5.0(1)
flashcards Flashcard (102)
studied byStudied by 12 people
282 days ago
5.0(1)
flashcards Flashcard (89)
studied byStudied by 21 people
99 days ago
5.0(2)
flashcards Flashcard (40)
studied byStudied by 12 people
748 days ago
4.4(5)
flashcards Flashcard (57)
studied byStudied by 129 people
793 days ago
5.0(1)
flashcards Flashcard (20)
studied byStudied by 23 people
863 days ago
5.0(1)
flashcards Flashcard (26)
studied byStudied by 2 people
482 days ago
5.0(1)
flashcards Flashcard (59)
studied byStudied by 18 people
835 days ago
5.0(1)
robot