Demand curve by Francia María https://padlet.com/46213483_2/Bookmarks Made by Juana Langenheim, Celina Miralles and María Francia en-us 2020-06-18 15:25:18 UTC 2025-11-03 07:36:47 UTC hello@padlet.com 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637905044 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. ]]> 2020-06-23 19:59:31 UTC https://padlet.com/46213483_2/Bookmarks/wish/637905044 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637905589 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. ]]> 2020-06-23 19:59:59 UTC https://padlet.com/46213483_2/Bookmarks/wish/637905589 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637905893 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.

]]> 2020-06-23 20:00:22 UTC https://padlet.com/46213483_2/Bookmarks/wish/637905893 Ceteris Paribus 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637906542 2020-06-23 20:01:15 UTC https://padlet.com/46213483_2/Bookmarks/wish/637906542 Linear relationship 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637907119 2020-06-23 20:01:52 UTC https://padlet.com/46213483_2/Bookmarks/wish/637907119 Continuous relationship 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637907536 2020-06-23 20:02:22 UTC https://padlet.com/46213483_2/Bookmarks/wish/637907536 Time-based relationship 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637908032 2020-06-23 20:03:00 UTC https://padlet.com/46213483_2/Bookmarks/wish/637908032 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637914302 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.

]]> 2020-06-23 20:09:54 UTC https://padlet.com/46213483_2/Bookmarks/wish/637914302 Demand curve 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637916428 2020-06-23 20:12:37 UTC https://padlet.com/46213483_2/Bookmarks/wish/637916428 Inverse negative relationship between P and Q 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637918862 2020-06-23 20:15:22 UTC https://padlet.com/46213483_2/Bookmarks/wish/637918862 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/637946960 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. ]]> 2020-06-23 20:47:37 UTC https://padlet.com/46213483_2/Bookmarks/wish/637946960 46025438_2 https://padlet.com/46213483_2/Bookmarks/wish/639999310 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.

]]> 2020-06-25 13:42:13 UTC https://padlet.com/46213483_2/Bookmarks/wish/639999310 What is a movement along the the demand curve? 46025438_2 https://padlet.com/46213483_2/Bookmarks/wish/640000495 2020-06-25 13:43:20 UTC https://padlet.com/46213483_2/Bookmarks/wish/640000495 46025438_2 https://padlet.com/46213483_2/Bookmarks/wish/640008624 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.

]]> 2020-06-25 13:50:32 UTC https://padlet.com/46213483_2/Bookmarks/wish/640008624 Income 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642333887 2020-06-28 19:30:10 UTC https://padlet.com/46213483_2/Bookmarks/wish/642333887 Interest rate 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642333990 2020-06-28 19:30:24 UTC https://padlet.com/46213483_2/Bookmarks/wish/642333990 Size of the total population 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642334196 2020-06-28 19:30:49 UTC https://padlet.com/46213483_2/Bookmarks/wish/642334196 Price of other goods 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642334368 2020-06-28 19:31:11 UTC https://padlet.com/46213483_2/Bookmarks/wish/642334368 Expectations 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642334481 2020-06-28 19:31:29 UTC https://padlet.com/46213483_2/Bookmarks/wish/642334481 Fashion, tastes and attitudes 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642334649 2020-06-28 19:31:55 UTC https://padlet.com/46213483_2/Bookmarks/wish/642334649 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642338151 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]]> 2020-06-28 19:40:12 UTC https://padlet.com/46213483_2/Bookmarks/wish/642338151 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642338550 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.]]> 2020-06-28 19:41:06 UTC https://padlet.com/46213483_2/Bookmarks/wish/642338550 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642338826 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.

]]> 2020-06-28 19:41:44 UTC https://padlet.com/46213483_2/Bookmarks/wish/642338826 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642341727 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.]]> 2020-06-28 19:47:23 UTC https://padlet.com/46213483_2/Bookmarks/wish/642341727 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642978547 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.]]> 2020-06-29 13:46:24 UTC https://padlet.com/46213483_2/Bookmarks/wish/642978547 Causing shifts in the demand curve 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642990879 2020-06-29 13:59:32 UTC https://padlet.com/46213483_2/Bookmarks/wish/642990879 Causing shifts in the demand curve 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642991454 2020-06-29 14:00:07 UTC https://padlet.com/46213483_2/Bookmarks/wish/642991454 Causing shifts in the demand curve 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642991512 2020-06-29 14:00:11 UTC https://padlet.com/46213483_2/Bookmarks/wish/642991512 Causing shifts in the demand curve 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642991555 2020-06-29 14:00:14 UTC https://padlet.com/46213483_2/Bookmarks/wish/642991555 Causing shifts in the demand curve 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642991602 2020-06-29 14:00:17 UTC https://padlet.com/46213483_2/Bookmarks/wish/642991602 Causing shifts in the demand curve 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642991633 2020-06-29 14:00:19 UTC https://padlet.com/46213483_2/Bookmarks/wish/642991633 46213483_2 https://padlet.com/46213483_2/Bookmarks/wish/642992277 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.]]> 2020-06-29 14:01:01 UTC https://padlet.com/46213483_2/Bookmarks/wish/642992277