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| is the amount of a good or service that a consumer is willing and able to buy various possible prices during a given time period. |
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| is a slightly different concept that describes the amount of a good or service that a consumer is willing and able to buy at each particular price during a given time period. |
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| The principle that all other factors being equal, consumer will purchase demand more of a good at lower price and less as a good. |
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| the amount of income that people have available to spend on goods and services |
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| the effect that a change in the items price has on consumer ability to purchase goods |
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| consumer tendency to substitute a lower price good for a similar priced one |
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| diminishing marginal utility |
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| or additional utility of each unit consumed diminishes or lessens with each additional unit |
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| quantity of goods that consumers are willing and able to buy at a series of possible prices |
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| plots this information on a graph |
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| goods that can be replace the purchase of similar goods when prices rise . |
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| goods that are commonly used with other goods. |
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| exists when a small change in a good's price |
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| when a change in good's price has little impact on the quantity demanded |
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| sometimes called total receipts refers to the total income. |
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| is the degree of whiches changes in a good's price affect the quantity. |
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