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Economic Demand 401

Horizontales
change in quantity of demand:- An increase or decrease in the _______ demanded because of change in price.
A demand ________ is a table showing how much of an item an individual is willing to purchase at each price.
substitution effect is a change in the amount that consumers will buy because they buy ________ goods.
Goods and services that can be used in place of each other.
change in demand is a description of when something prompts __________ to buy different amounts at every price.
a demand curve is a _______ that shows how much of a good or service an individual will buy at each price.
normal goods are goods that consumers demand more of when their _______ rise.
____________ goods are goods that consumers demand less of when their incomes rise.
Verticales
income effect is the _______ in the amount that consumers will buy because the purchasing power of their income changes.
Goods that are used together, so a rise in demand for one increases the demand for the other
Law of demand states that when prices go down, ________ demanded increases. When prices go up, _________ demanded decreases.
The willingness to buy a good or service
A ________ demand schedule is a table showing how much of an item all consumers are willing to purchase at each price.
market demand ______ is a graph that shows how much of a good or service all consumers will buy at each price