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Topic 3 - markets Cheat Sheet (DRAFT) by

This is a draft cheat sheet. It is a work in progress and is not finished yet.

Types of demand

Market demand
Sum of individual demands for a certain good or service
Individual demand
Demand of an individual consumer
Law of demand
Quantity demanded varies inversely with price

Demand curve

Factors affecting demand

Price of good or service
Level of income
Size and age of population
Tastes and prefer­ences
Price of other goods and services
Expected future prices