Summary

 

Demand is the quantity demanded at each price

 

The law of demand states that, other things being equal, as price increases, quantity demanded decreases and as prices decreases, quantity demanded increases

 

If there is a change in the price of the product, there will be a movement along the demand curve

 

If something other than the price of the product changes, the demand curve will shift

 

If more is demanded at each price, the demand curve will shift to the right

 

If less is demanded at each price, the demand curve will shift to the left