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Demand Unit 4.1 Demand – The desire to own something, and the ability to pay for it. • The Law of Demand – As prices go up quantity demanded goes down. – As prices go down quantity demanded goes up. Demand Curve • The demand curve is a downward sloping line showing the inverse relationship between quantity and price Demand Schedule Market Demand • Demand curves can show the demand for an individual, or for a “market” of any defined size (classroom, CPHS, Pleasant Hill, etc.)
