2.3 Demand Flashcards
1
Q
What is demand
A
The amount of a good/service a consumer is willing to purchase at a given price in a given time period
2
Q
What causes movement along the demand curve
A
Price changes
3
Q
What makes demand not effective
A
If a consumer is willing to buy a good/service but can’t afford it
4
Q
What causes the demand curve to shift
A
Population
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Substitution goods
Interest rates and income tax
Fashion
Income of consumers
Complimentary goods
