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Demand is the desire, ____________, and willingness to buy a product or service
Prices act as a motivating influence, or____________, that causes an individua; to take action.
The Law of Demand states that the quantity demanded of a product varies____________with it's price
The Market demand curve that shows the __________by everyone who is interested in purchasing a product at all possible prices.
As peopleuse more and more of a product, they encounter_________________
A Demand schedule is best described as
a time line
When the price of something increases, the quanitity demanded________
Consider the term marginal utility. Which word is the best synonym for marginal?
Why is a demand curve downward sloping?
Because quanity demand increases as price decreases
because of the natural elasticity of the market
it shows how increasing incentives changes demand
it reflects the desire, ability and willingness of consumers
Why is the Law of Demand called a "law"
Because it is legally required
because there are no exceptions to it
because it has been demonstrated repeatedlu
because it is an economic term