1. Demand and Supply
The market price for products and services is affected by the demand and supply of products and services
If there is a high supply and low demand- what will happen to prices?
If there is a low supply and high demand- what will happen to prices?

2. Reasons for Law of Demand and supply
Substitution Effect
Income Effect
Law of Diminishing Marginal Utility

5. This demand schedule shows the quantity demanded of a product at different prices.
For example, when Chris’s demand for coffee is 20 cent per gram, he wants 28g, but when the price goes up to 40 cent per gram, he will only want 15g, and the quantity demanded will continue to drop as the price goes up

6. A Demand Curve shows the quantity demanded by customers at different prices.