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definition: A change in quantity demanded occurs when the price of a product changes
The ONLY thing that can change quantity demanded is a change in the price of that product, right now. (Ceteris Paribus) connected key terms: demand schedule | demand curve | quantity demand changes | demand changes
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▪ häagen-dazs price rises, people buy less ▪ pizza price rises, less pizza bought ▪ coffee price drops, more people buy coffee |