📘 Core concepts
- 1Demand: quantity of a good consumers are willing & able to buy at given price.
- 2Law of Demand: inverse relation between price and quantity demanded (ceteris paribus).
- 3Determinants: price of substitutes, complements, income, taste, expectations.
- 4Elasticity: responsiveness of demand to change in price/income.
- 5Supply: quantity producers willing to sell; direct relation with price.
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