The demand curve

2 articles
6 videos
You've probably heard of supply and demand. Well, this tutorial focuses on the demand part. All else equal, do people want more or less of something if the price goes down (what would you do)? Not only will you get an intuition for the way we typically depict a demand curve, you'll get an understanding for what might shift it.

Law of demand

VIDEO 8:16 minutes
Example of the law of demand

Law of demand

If the price of something goes up, people are going to buy less of it.

Price of related products and demand

VIDEO 5:48 minutes
How changes in the price of related goods can shift demand

Changes in income, population, or preferences

VIDEO 3:33 minutes
How demand can be affected by changes in income, population or preferences

Normal and inferior goods

VIDEO 5:56 minutes
How the demand for some goods could actually go down if incomes go up

Inferior goods clarification

VIDEO 5:19 minutes
More clarification on inferior and normal goods

What factors change demand?

Price isn't the only factor that affects quantity demanded.