Supply + Demand

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Last updated 10:49 AM on 9/22/26
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6 Terms

1
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Demand

The QUANTITY of goods/services consumers are willing and able to buy in a given point in a given period of time

2
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what does demand need to be in order to exist

effective- people need to be willing AND able

3
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What is the law of demand

There is an inverse relationship between price and quantity demanded ASSUMING CETERIS PARIBUS

4
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If price of product changes what happens to demand on the curve

it moves along the curve

5
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what is it called where demand moves along and up the curve

contraction of demand as there is a decrease in price so more ppl are w/a to purchase goods

6
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what is it called if