Micro: Unit 1.1 -- Demand
Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
Define market demand and explain the factors that contribute to the inverse relationship
between price level and quantity demanded
Explain changes in quantity demanded as price level changes, leading to a downward-
sloping demand curve
Identify the 5 components of market demand (P.I.N.E.T.) and discuss how several
factors can influence demand
Analyze changes in the components of market demand, predict the effects of those
changes, and then graph the changes on a demand graph
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