Econ: Graphing Demand



Reminder, there is a difference between a change in demand and a change in quantity demanded. A change in quantity demanded is a movement along the demand curve and can be caused only by a change in the price of the good or service. At a lower price, a larger quantity is demanded. A change in demand is a shift in the curve whereby more or less is demanded at every price. Changes in preferences incomes, expectations, population, or the prices of complementary or substitute goods will cause a change in demand.


Homework:
Chapter 3 Quiz – tomorrow (Thurs. 10/6)
Chapter 2 Quiz III (retest) – closes Fri 10/7

Arrows-02-june

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