1.2.2 Demand Flashcards
1
Q
Demand
A
Demand is the quantity of goods and services that will be bought over a period of time at any given price.
2
Q
Demand curve
A
Shows the quantity of a good or service that would be bought over a range of different price levels in a given period of time.
3
Q
Effective demand
A
What consumers are willing and able to pay for in a period of time.
4
Q
Notational demand
A
What consumer want to buy, but cannot necessarily afford in a period of time.
