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Term
Definition
show This is the number of units of good a consumer will buy at various prices.  
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show This states that an increase in price leads to a decrease in quantity demanded or a decrease in price leads to an increase in quantity demanded.  
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Consumer surplus   show
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show This studies the quantities of a good that an individual consumer is prepared to buy at each price.  
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show This is the total amount of a good which is demanded by the total number of consumers in the market at each price. Market demand is found by adding together the amounts which each individual consumer will demand at each price.  
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Effective Demand   show
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show This exists where demands for two goods are linked.  
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show This occurs when one commodity is an essential part of another commodity, and it is demanded not for it’s own sake, but because it is required to manufacture another good.  
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show This occurs when there is a demand for a good because it contains some built in quality  
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