Honors Economics ~ The Law of Demand
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If the price goes up, the demand goes down
If the price goes up, the demand goes down
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1,2,3 Economics !
Demand refers to
A relationship between the price
and the quantity
that consumers are willing to buy
when the price increase
the less the people are willing to buy
but when the price decrease, people will buy more
cause it's the law of demand
in Economics
if the price goes up
the demand goes down
it's the law of demand
in economics
if the price goes up
the demand goes down
a rise in income
increases the demand for a normal good
so instead of feeling poor
we could feel richer, everybody should
but a decrease in income
will make you purchase more inferior goods
so instead of Applebees
to you McDonald's is good
cause it's the law of demand
in economics
if the price goes up
the demand goes down
it's the law of demand
in economics
if the price goes up
the demand goes down
Demand slope
is downward
put price on the vertical axis
and the quantity goes on the horizontal axis
and now it's easy
to graph and understand the law of demand
just remember they are inverse
and this is how i'm so sure
cause it's the law of demand
in economics
if the price goes up
the demand goes down
its the law of demand
in economics
Law of demand !
it is.... the Law of Demand !
it is.... the Law of Demand !
it is..... the Law of Demand !
Law of Demand !
to the left, to the left
to the left, to the left
to the left, to the left
6 things shift demand graphs to the left
for example, a decrease in consumer income and their wealth
and also a change in people's taste and their preferences
nowadays more people have cars and no one really wants to call a cab
Demand graphs shifts to left when there's a higher price for substitute goods
if the price of apples increase, the demand for oranges would
and this all makes sense
cause this is the law of demand. This is the law of demand
the graph can shift to the left when there's a change
in complementary goods, ohh yess baby
this is the law of demand, this is the law of demand
the graph can shift to the left when there's a change
in number of people or their expectations
it's unstable !