quantity demanded and quantity supplied are equal

supply and demand interact

supply and demand are not equal

price is above leading to excess supply

price is below leading to excess demand

price set above to protect sellers

price set below to make goods affordable

a place where the exchange of goods and services take place

refers to the willingness and ability of buyers to purchase

states that as the price increases, quantity demanded decreases

all other factors are constant

table showing different quantities demanded

graphical representation of demand schedule, illustrating the inverse relationship

a mathematical model

when price increase, the consumers real income decreases

price of good increases, consumers tend to buy less of it and more of substitute

B stands for?

I stands for

T stands for

E stands for

R stands for

amount of money that an individual receives

portion of income and plays a significant role

part of income that is saved rather than spent

demand rises with income

demand decreases as income rises

consumer behavior influenced by factors like weather, occasions, and trends

people expect price to rises

products that serve the same function