State the law of demand and explain the meaning

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Reference no: EM133714275

Question 1. Define demand.

Question 2. State the Law of demand and explain the meaning of 'other things held constant '.

Question 3. Describe the determinants of demand (shift factors) other than price.

Question 4. What are 'substitute goods' and 'complimentary goods'?

Question 5. Explain the difference between 'movement along the demand curve' and 'shift of the demand curve'.

Reference no: EM133714275

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