Effective ... is the amount that consumers are willing and able to buy of goods or services at a given price
Demand
1 of 9
A ... of the demand curve is because of changes not due to price level; the conditions of demand
Movement
2 of 9
A ... along the demand curve is because of changes in price level
Movement
3 of 9
A ...of the demand curve is where demand changes so there is a whole new demand curve
Shift
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A ... of the demand curve is when the demand increases due to price level
Extension
5 of 9
A ... of the demand curve is when the demand decreases due to price level
Contraction
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... utility is when more of a good is consumed, the utility (usefulness) of it decreases. Therefore it becomes less useful and has less satisfaction as more is consumed
Diminishing Marginal
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The ... effect of a price fall is when the good becomes more attractive than other goods of similar use
Substitution
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The ... effect of a price fall is when you can buy more of a good with the ... you have, or spend more of your ...
Income
9 of 9
Other cards in this set
Card 2
Front
A ... of the demand curve is because of changes not due to price level; the conditions of demand
Back
Movement
Card 3
Front
A ... along the demand curve is because of changes in price level
Back
Card 4
Front
A ...of the demand curve is where demand changes so there is a whole new demand curve
Back
Card 5
Front
A ... of the demand curve is when the demand increases due to price level
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