demand revision1

what is measured on the vertical axis of a demand diagram ?

• cost

• price

• quantity demanded

• wants

what happens to people's willingness and ability to buy a product when its price falls?

An increase in demand is represented by ?

• A movement down the demand curve

• A movement up the demand curve

• A shift to the left of the demand curve

• A shift to the right to the demand curve

Demand means the_ and_ to buy the product

Market demand is the _demand of a product

Change in a product's price will cause a _ along the demand curve.

Non-price factor will cause _ of demand curve

A demand curve shows the relationship between the quantity demanded and ?

• A change in income

• consumer tastes

• the supply of the product

• the price of the product

A demand curve is downward sloping which indicates _ relationship between price and quantity demanded.

Law of demand means when price of a product increases, its quantity demanded_ ; when its price decreases, its quantity demanded _