supply and demand

combination of desire, ability and willingness to buy a product

• Demand schedule

• Supply

• Demand

• supply curve

branch of economic theory which deals with behavior and

decision making by small units such as individuals and firms

• Demand schedule

• Supply

• Microeconomics

• supply curve

a table showing the quantity demanded at all possible prices

that might prevail in a market at a given time

• Demand schedule

• Supply

• Microeconomics

• supply curve

rule stating that all else being equal, as price falls, the quantity demanded rises, and as price rises, the quantity demanded fall

• Law of Demand

• Law of supply

• Change in demand

• change in quantity demanded

a different quantity is purchased as a result of a price change, and shown movement along the demand curve

• Law of Demand

• Law of supply

• Change in demand

• change in quantity demanded

consumers demand more or less at every price causing the demand curve to shift left or right

• Law of Demand

• Law of supply

• Change in demand

• change in quantity demanded

as price rises, quantity supplied increases;

as price falls, quantity supplied decreases

• Law of Demand

• Law of supply

• Change in demand

• change in quantity demanded

is the amount of a product that offered for sale at all possible prices in the market.

• Demand schedule

• Supply

• Microeconomics

• supply curve

that portion of a change in the quantity demanded caused by consumers buying more because their real income has increased

• Substitutes

• Compliments

• income effect

• substitution effect

change in the quantity demanded due to change in the relative price of the product

• Substitutes

• Compliments

• income effect

• substitution effect