Econ 4

according to the___________ price and quantity demanded are inversely related

Two goods are ______ if they are consumed together.

Alaw of demand downward-slopping demand curve is the graphic representation of the________.

for a(n)_________ good, the demand increases as income rises and falls as income falls.

demand is__________ if the percentage change in quantity demanded is less than the percentage change in price.

if, as the price of good X rises, the demand for Y increases, then X and Y are_______.

an ______ in demand for a good causes a leftward shift in the demand curve

when demand is_______, the percentage change in quantity demanded is the same as the percentage change in price

Margarine and butter are substitutes what happens to demand for margarine if price of butter increases?

A Change in ____ is what causes quantity demanded to change.

_____ is the willingness and ability of buyers to purchase different qualities of a good at different prices.

according to the____________, as a person consumes additional units of a good, eventually the utility gained decreases.

Numerical chart showing the law of demand is ______

an ______ in demand for a good causes the demand curve to shift to the right.

______ exists when the quantity demanded changes by a greater percentage than price.

A Change in demand may be caused by changes in ______.

if, as income rises, demand for a good falls, then that good is A(n)__________ good.

if a person buys the same amount of the good when income changes, the good is called a _____ good

A(n) _____ is any place people come together to buy and sell goods or services

according to the law of demand, as the price of a good rises the_____________ of the good falls?