5 concepts
The Law of Demand
In general, the law of demand states that the quantity demanded and the price of a good or service is inversely related, other things remaining constant.
Demand Schedules and Demand Curves
A demand curve depicts the price and quantity combinations listed in a demand schedule.
Market Demand
Market demand is the summation of the individual quantities that consumers are willing to purchase at a given price.
Ceteris Paribus
Ceteris paribus is defined as "all else being equal," or "holding all else constant".
Changes in Demand and Shifts in the Demand Curve
Demand is the relationship between the willingness to purchase a quantity of a good or service at a specific price.