Memory Demand TermsVersion en ligne Econ Ch4.1 par Kim Jacoway The quantity of a good or service demanded varies inversely with the price. the extra usefulness or satisfaction a person gets from acquiring or using one more unit of a product the principle which states that the extra satisfaction we get from using additional quantities of the product begins to diminish. Individual Demand Schedule Law of Demand Demand The willingness, ability and desire to buy a product Utility Market Demand Curve the amount of usefulness or satisfaction that someone gets from the use of a product or service. Marginal Utility Diminishing Marginal Utility Graph that shows the amount an individual or a market will pay for a product at multiple price points Chart that shows the amount an individual is willing to pay for an item at multiple price points.
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