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economics - IGCSE
Ch3 - the demand curve
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Cards (7)
Demand
The
amount of goods or services that consumers are willing and able to buy at a given price
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Price
Quantity demanded
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When price goes
up
Quantity demanded will
fall
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When price goes
down
Quantity demanded will
rise
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If the price of a good changes
There is a
movement along the demand curve
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Shift in the demand curve
Movement to the
left
or
right
of the entire demand curve when there is a
change
in any
factor affecting demand
(except the
price
)
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Demand curve
downward sloping
(the curve slopes down from
left to right
)
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