2.1 Demand 📉

🎯 Learning Targets

• Define key terms and factors related to consumer decision making and the law of demand
• Explain the relationship between price and quantity demanded and how buyers respond to incentives and constraints
• Explain buyers' responses to changes in incentives and contraints

⏰ What We Did

• Identified markets and the role both incentives and constrains have upon them
• Discussed the law of demand and the relationship between price and quantity demanded
• Exhibited how to create a demand curve using a demand schedule
• Discovered how the demand curve may shift based on the determinants of demand

⚙️ Resources

• 2.1 Demand

📖 Corresponding Reading

• Chapter 3, Principles of Microeconomics

💻 Homework

• Read and take notes on Chapter 3 in PoM before W 22 Oct 2025