The demand for goods and services

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  • Created by: izzy
  • Created on: 09-06-13 14:01
  • Demand means effective demand, based on ability as well as willingness to pay.
  • Market demand is sum of the individual demand of all the consumers in the market.
  • The 'law' of demand states that a good's price falls, more is demanded.
  • Market demand (and individual demand) can be represented on a demand curve.
  • For most goods, demand curves slope downward.
  • If any of the conditions of demand change, the demand curve shifts to


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