Demand
- Created by: Jess
- Created on: 09-04-14 18:43
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Market: where or when buyers and sellers meet to trade or exchange goods or services.
Demand: the quantitu of a product that consumers are willing and able to purchase at various prices in a given time period
There is an inverse relationship between the price of a product and the quantity demanded - the higher the price, the less will be demanded.
Movement along the demand curve: this is in response to a change in the price of a product.
Consumer surplus: the extra amount that…
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