Demand Terms

Memory

(26)

Econ Ch4.1

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HS4

Economics

demand

Âge recommandé: 17 ans

83 fois fait

Kim Jacoway

United States

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