Demand Basics Pt.2

A measure of how much a change in price affects Quantity Demanded

If there is an increase in demand, it is shown by ......

If the price goes up, it is shown by

If the price of the product goes up you would _________ the curve, if it goes down, you would ________ the curve.

The determinants of Demand can be found on ....

Goods used in place of other goods are known as ______, those used with other goods are _______

A breakdown of how many each of the individual participants in the market will buy

This diagram shows .....

On a graph of demand, we label the vertical axis ___________, and the horizontal axis _____________.

If QD changes very little in response to a change in price it is __________, while if it changes greatly it is _________

Is the price of the product on the list of things that determines demand?

The principle that says that people will buy more at lower prices

This diagram shows .....

If people buy more at each price, it is a/an ______________

Demand curves slope in this direction