4. Law of Demand Fill-in

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Adapted from https://www.daveforrest.net/Economics/ap-economics-studyguide.pdf

Shaner Adams

United States

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Compléter 4. Law of Demand Fill-inVersion en ligne Adapted from https://www.daveforrest.net/Economics/ap-economics-studyguide.pdf par Shaner Adams 1 Basic Microeconomics Supply and Demand - : the and ability for consumers to pay for goods and services . o Law of Demand : ? As prices go , the demand goes down ? As prices go , the demand goes up Factors that Influence the Shifts in Demand : ? Non - price factors like people ? s shifts the curve . ? products , or products that replace another product , can find an increase demand or a decrease in demand depending on the costs of the product that it is substituting . ? products , or products that go with another product , can find an increase in demand if the product it complements has an increase of demand . ? The Effect : as consumers ? incomes fluctuate , so does the level of demand . ? Increase in increase the demand for goods ? in wages decrease the demand for goods ? shifts can also effect the level demand for a product . ? Future of prices can lead to a change in the demand for goods .