IGCSE Economics Chapter 2

• similar to demand
• how much would be bought ( i.e. how much peole can afford to buy and would actually buy) at any given price

• relationship between price and quantity demand is inversely related
• when prices go up demand will fall
• when prices go down demand will rise

*demand curves slopes downward from left to right

• price change is the only factor that causes a movement in the demand curve
• all other factors that influence demand have a different effect