After completing this lesson, you will be able to

• explain the law of demand
• explain that a demand curve is a graphical representation of the data in a demand schedule
• describe the difference between demand and quantity demanded
• explain why a demand curve shifts to the left or right
• list the factors that cause a change in demand
• define complements and substitutes
• define normal and inferior goods
• explain how the change in the price of one good can affect the demand for a related good
• differentiate between movement along a demand curve and a change in demand
• explain that a change in the price of a good or service causes a change in the quantity demanded of that good or service