BUSN-201 Lecture Notes - Lecture 2: Demand Curve
25 Mar 2016
School
Department
Course
Professor
Document Summary
We begin our study of markets by examining the behaviour of. Between price and quanity demanded: quanity demanded: the amount of a good that buyers are willing and able to purchase. Law of demand: the claim that, other things equal, the quanity demanded of a good falls when the price of the good rises. Demand schedule: a table that shows the relaionship between the price of a good and the quanity demanded. Demand curve: a graph of the relaionship between the price of a good and the quanity demanded. Market demand: the sum of all the individual demands for a paricular good or service. Market demand as the sum of individual demands.
