- Effective demand = the amount of a good people are willing to buy at given prices over a period of time backed by the ability to pay
- The demand curve = a line drawn on a graph which shows how much of a good will be bought at different prices
- The demand curve = a line drawn on a graph which shows how much of a good will be bought at different prices
- Price and quantity are 'inversely' related / Inverse relationship = when prices go up the quantity demanded will fall and when prices go down the quantity demanded will rise
- Factors influence demand movement (see in: FACTORS THAT AFFECT DEMAND)
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