Chapter 2

Effective demand happens when someone pay for the demand.

An increase in demand due to income will shift the curve towards

Supply have a adverse relation where as demand have a inverse relationship with price.

Supply is a willingness and ablity of produce to produce goods and services.

Demand is the willingness and ablity to buy a product and service?

What is law of supply

Change in fashion bring a shift in the demand curve.

Change in government policies will bring in a shift in supply curve.

Movement along demand curve is due to all other factors except price.

Change in income can cause a movement along the demand curve.