Answer:
1. it's an economic principle of a consumer's desire to purchase goods.
2. the law of demand is an economic principle that states that at a higher price consumers will demand a lower quantity of goods.
3. the slope of demand curve shows the ratio between the two absolute changes in price and demand (they're both variables).
4. incomes, tastes and preferences, composition/size of the population, prices of related goods, and expectations of consumers.
5. a change in demand means the entire demand curve shifts completely left or right, a change in quantity demanded is a movement along the demand curve which is caused only by a change in price.
6. supply is the amount of a resource that economic agents are willing and able to provide to the marketplace or to an individual.
7. it states that other factors remain constant, price and quantity supplied of a good are directly related to each other. so when the price paid by buyers for a good rises, then suppliers increase the supply of that good in the market.
8. the upward slope of the supply curve illustrates the law of supply meaning that a higher price leads to a higher quantity supplied and vice versa. as the price decreases, the quantity supplied decreases.
9. the number of sellers in the market, the level of technology used in a good's production, the prices of inputs used to produce a good, and the amount of government regulation.
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10. a change in quantity supplied is a movement along the supply curve in response to a change in price, a change in supply is a shift of the entire supply curve in response to something besides price.
I hope this answers your question(s). Have a good weekend!
