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vocab
| Term | Definition |
|---|---|
| demand | desire to own something and the ability to pay for it |
| law of demand | consumers will buy more of a good when its price is lower and less when its price is higher |
| demand schedule | a table that shows how much of a good or service an individual consumer is willing and able to purchase at each price in a market |
| market demand schedule | shows the quantities demanded at various prices by all consumers in the market |
| demand curve | graph that shows how much of a good or service an individual will buy at each price |
| market demand curve | shows the data found in the market demand schedule |