The law of demand
Why does demand slope downward?
The demand curve
The demand curve slopes downward: higher price → lower quantity demanded
Individual vs. market demand
Movement along vs. shift of demand
Shift right = increase in demand; Shift left = decrease in demand
Determinants of demand (demand shifters)
Substitutes and complements
Normal goods vs. inferior goods
The demand schedule
Demand function (linear)
Inverse demand function
Willingness to pay and the demand curve
AP exam tips for 1.4
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Common mistakes
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