Supply to the extreme.
Is the relationship between price and quantity demanded only.
Is like a boss.
Relates to a movement along the demand curve and a specific point on the demand curve.
Requires a pHD to calculate
If the price of a good or service changes, then we know we are dealing with a change in quantity demanded and a movement along the demand curve.
There are countless factors that could affect an individual’s willingness and ability to purchase a good or service.
Is something I wish I could do right now, but I don't have a job ahhhhh.
Will result in a shift to the right or left.
Rocks my world.
Does not relate to the price of the good or service that is being demanded.
Changes in income.
Changes in taxes.
Changes in advertising.
Changes in the price of substitutes.
Changes in the price of complements.
Changes in tastes and preferences.
There are countless factors that affect demand [even the weather - in a storm, you will most likely demand an umbrella if you do not already have one]