Question: Chapter 4 What is a market 0.00 5.00 10.00 15.00 Price ($) 20.00 25.00 30.00 P* Law of demand (define) Demand vs. Quantity Demanded

Chapter 4 What is a market 0.00 5.00 10.00 15.00 Price ($) 20.00 25.00 30.00 P* Law of demand (define) Demand vs. Quantity Demanded Demand curve and schedule (know the difference) Market vs. individual demand Price per kg of Apples (Rupees) 80 60 40 20 2 3 4 5 Normal good Inferior good Substitutes and EXAMPLES Complements and EXAMPLES Demand shift (define) List the 5 Demand shifters Create a headline for each shifter using SpongeBob. Ceteris Paribus Create a demand curve using the demand schedule below Price of Ice Cream Cone Quantity of Cones Demanded CHAPTER 4 TEST REVIEW 12 Equilibrium 10 8 6 Supply (S) 4 2 0 Demand (D) Q Quantity Copyright 2003-Investopedia.com Create a Market Demand Curve for the demand schedule below. Demand by Consumers (in kg) Amar Ali Alex 4 6 8 10 5 8 11 14 Market Demand (in kg) 11 17 23 29

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