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Economics 1

The desire to own something and the ability to pay for it.
A table that lists the quantity of a good all consumers in a market will buy at at various prices
A table that lists the quantity of a good a person will buy at various prices in a market
The change in consumption that results when a price increase causes real income to decline
A graphic representation of a demand schedule
When a good's price is lower consumers will buy more of it
When a consumer reacts to a rise in the price of one good by consuming less of that good