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The desire to have some good or service and the ability to pay for it, States that when the price of a good or service goes down quantity demanded increases and when the prices go up quantity demand falls, Products that can be used in place of other products to satisfy consumer wants, Referring to the situation in which a change in price either up or down leads to a relatively larger change in the quantity demand or the quantity supplied, A change in the amount of a product that consumers will buy because of the change in price, The study of the behavior of individual players such as individuals families and businesses in an economy, The pattern of behavior that occurs when consumers react to a change in price of the product by buying a substitute product that offers a better relative value, Products that are used together so the increase or decrease in demand for one will result in an increase or decrease in demand for the other, A situation in which quantity demanded or quantity supplied change his little as price changes, A table that shows how much of a good or service an individual is willing and able to purchase at each price, A change in the amount of a good or service a consumer will buy because his or her income changes, The gratification received from the consuming the next unit of a good, Relating to the situation in which the percentage change in price and quantity demanded are the same, A graph that shows data from a market demand schedule or how much of a good or service all consumers are willing and able to purchase at each price, A graph that shows the demand schedule or how much of a good or service an individual is able to purchase at each price, A situation in which a change in the marketplace prompts consumers to buy different amounts of a good or service at every price, It expresses reaction of a change in price on total revenue, The money that a consumer earns from either work or investment such as dividends distributed by companies to its shareholders and the gain realized on the sale of assets such as a house. 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