1. Demand Mr. Nunn

2. Demand The willingness and ability of buyers to purchase different quantities of a good at different prices during a specific time period.

3. Law of Demand A law stating that as the price of a good increases, the quantity demanded of the good decreases, and that as the price of a good decreases, the quantity demanded of the good increases.

4. Law of Diminishing Marginal Utility A law stating that as a person consumes additional units of a good, eventually the utility gained from each additional unit of the good decreases.

5. Quantity Demand The number of units of a good purchased at a specific price.

6. Demand Schedule The numerical representation of the law of demand. PriceQuantity demanded 51 42 33 24 15

7. Demand Curve The graphical representation of the law of demand.

8. Market Demand Curve