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  • Kathryn Longstaff

    Lesson 8.6.1 Activity 1

    Define the law of demand. Define the law of supply. Describe these terms in your own words and make sure to include an explanation of the relationship between price and quantity.​

    1. When prices change, how is that reflected on a given supply or demand curve? For instance, if the price of a particular chocolate bar increases, will demand or quantity demanded change? Explain.​
    2. List the determinants of demand.​
    3. List the determinants of supply.​
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