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Inverse negative relationship                               between P and Q      

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Inverse negative relationship                               between P and Q      

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What is a movement along the the demand curve?

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What is a movement along the the demand curve?

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A movement refers to a change along a curve. On the demand curve, a movement denotes a change in both price and quantity demanded from one point to another on the curve. The movement implies that the demand relationship remains consistent.

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The time period is weekly. While the time passes, the quantity of demand changes. It can be depending the price, or other products becoming better.

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There is movement along a demand curve when a change in price causes the quantity demanded to change.

Economists call this positive relationship between price and quantity supplied—that a higher price leads to a higher quantity supplied and a lower price leads to a lower quantity supplied. The law of supply assumes that all other variables that affect supply are held constant.

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Is a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.

In a typical representation, the price will appear on the left vertical axis and the quantity demanded on the horizontal axis.

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Is a term used to describe a straight-line relationship between a variable and a constant.

A linear demand curve is the graphical representation of the relationship between the price of a good, and the quantity of that good consumers are willing to pay at a certain price at a point in time. It is shown when the demand curve has been drawn as a straight line.

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The demand depends on the size of the population. If the population is bigger there would be more demand.
Eg: the more children a family has, the greater their demand for food.  The more eldest age children a family has, greatest the demand for underwear and less for diapers.

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It is a commonly used Latin phrase meaning "all other things remaining constant". In other words, other things being equal.

It is an important concept in economics, because it is necessary to apply it when it comes to the demand of a product. There are several influences that can affect it. If several of this influences are changing at the same time, it is complicated to understand their connections.

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When people expect that the value of something will rise, they demand more of it.
If buyers expect that the price of the good will be increasing in the future, they are likely to buy more today
If consumers expect a product's price to fall, they will wait to buy the product when it is cheaper. In other words, demand falls

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They are a matter of individual behavior, it depends on each of our tastes. Whether we like or dislike something is influenced by many factors.
When the public’s desires, emotions, or preferences change in favor of a product, so does the quantity demanded. Likewise, when tastes go against it, that depresses the amount demanded. Brand advertising tries to increase the desire for consumer goods.

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When income rises, so will the quantity demanded. When income falls, so will demand. But if your income doubles, you won't always buy twice as much of a particular good or service.

For some luxury goods, income will be an important determinant of demand. Eg: if your income increased you would buy more restaurant meals, but probably not more salt.

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Interest rate levels are a factor of the supply and demand of credit: an increase in the demand for money or credit will raise interest rates, while a decrease in the demand for credit will decrease them.

Conversely, an increase in the supply of credit will reduce interest rates while a decrease in the supply of credit will increase them.

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When all other things remain constant, there is an inverse relationship, or negative correlation, between price and the demand for goods and services.  Similarly, when the price of a product decreases, the quantity demanded increases.

Eg: suppose all factors remain constant and the price of oil is rising significantly. When the price of oil increases, the price of a plane ticket increases as well. This will cause a fall in the demand for plane tickets, because ticket prices may be too expensive for average consumers.

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The price of complementary goods or services raises the cost of using the product you demand, so you'll want less.

Eg: when gas prices rose to $4 a gallon in 2008, the demand for gas-guzzling trucks and SUVs fell.2 Gas is a complementary good to these vehicles. The cost of driving a truck rose along with gas prices.

The opposite reaction occurs when the price of a substitute rises. When that happens, people will want more of the good or service and less of its substitute. That's why Apple continually innovates with its iPhones and iPods. As soon as a substitute, such as a new Android phone, appears at a lower price, Apple comes out with a better product. Then the Android is no longer a substitute.