Demand Curves Flashcards
What happens to demand when price decreases?
Expand or Contract?
Demand will EXPAND or increase.
What happens to demand when price rises?
Expand or Contract?
Demand will CONTRACT or decrease.
What happens if there is a change in price of a good or service?
Along or Shift?
This will move ALONG the demand curve.
What happens if there is a change in anything else?
Shift or Along?
This will cause the demand curve to SHIFT.
What happens if there is an increase in demand?
Left or Right?
The demand curve will shift to the RIGHT.
What happens if demand decreases?
What direction?
The demand curve will shift to the LEFT.
What happens if the price falls?
Expand or Contract?
Demand EXPANDS or increases.
What happens if the price increases?
Expand or Contract?
Demand CONTRACTS or decreases.
