12BS Chapter 4 Demand Booklet

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4 questions
1
Draggable itemCorresponding Item
Demand curve
quantity that customers are willing and able to buy at a given price in a given period of time.

The amounts (quantity) demanded of a product in the market at different price points.
Demand
Factors that change during different times of the week
Seasonal Factors
A sudden and often significant change in the external environment
External Shocks

1

What is this called?

1

Give one effect of income

1

Give one effect of substitution