Theme 1

all

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What causes a shift in the demand curve?
change in any of the factors
1 of 6
What causes a movement od the demadn curve?
change in price
2 of 6
what is a quantity demanded falls because of an incresae in price called?
contraction
3 of 6
What is quantity demanded rises due to a decrease in price called?
extension
4 of 6
What is the neumonic for the conditions of demand?
PIRATES
5 of 6
What is the term for the satisfaction derived from the consumption of an additional unit of a good will decrease as more of a good is consumed?
Diminishing marginal utility
6 of 6

Other cards in this set

Card 2

Front

What causes a movement od the demadn curve?

Back

change in price

Card 3

Front

what is a quantity demanded falls because of an incresae in price called?

Back

Preview of the front of card 3

Card 4

Front

What is quantity demanded rises due to a decrease in price called?

Back

Preview of the front of card 4

Card 5

Front

What is the neumonic for the conditions of demand?

Back

Preview of the front of card 5
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