(00:40-01:47) Movement Along Curve & Ceteris Paribus
(01:48-03:26) Shift in Demand Curve
(03:27-04:45) Substitutes vs. Complements
Terms to Know
Holding all other variables constant
As the price of one good increases, the demand for an alternative good, meeting similar consumer need, increases
A good for which the demand decreases as the price of an associated good increases.
Movements Along Demand Curve
Demonstrated when the price of the product changes and impacts the quantity demanded.
Shift in Demand
A change in something other than price affect purchasing behavior.