Econ pr 2

Econ pr 2
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Chapter 3

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  • Demand is the different quantities of goods that customers are willing and able to buy
  • Now, Remember, as price falls, quantity demanded rises.
  • The opposite is also true
  • Demand can shift. When demand shifts..
  • it means that at the same prices more people are willing and able to purchase the good.
  • So, you think you understand?
  • Yeah, I think I do!
  • You must remember, this is a change in demand
  • Right, not quantity demanded
  • Demand will only shift if taste, number of consumers, income,or future expectations change
  • Price will not shift the curve. At all.
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