Calculate consumer surplus based on a graph or table.

What is the law of demand and how does it explain consumer behavior in response to changes in the price of a good or service?

What would cause an increase in quantity demanded?

Explain all the reasons why decrease in the products price will lead to an increase in purchases

what does this mean in terms of the interrelationship of supply, price, and demand on two items of your choice. Maybe it’s a Christmas that a child really wants but that most stores no longer have in stock. Or it might be a piece of clothing that you bought last year and now want to replace it but which is hard to find or twice as expensive as what it was last year.

What if buyers in the market were to Decrease?