Economics (AS)·Demand & the demand curve · NSSCAS 2.1a
Demand & the demand curve
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Now we step into the market itself, starting with demand. You met demand at NSSCO level, so parts of this will feel familiar — but at AS we make it precise. We define effective demand exactly, draw the demand curve properly on price-and-quantity axes, add individual demands into a market demand schedule, and master the one distinction examiners test again and again: a movement ALONG the curve versus a SHIFT of the whole curve. We finish with the non-price factors that shift demand, including complements and substitutes.
What you'll learn in this lesson
By the end you should be able to (NSSCAS Economics (AS) 2.1a):
- Explain effective demand
- Describe individual and market demand
- Discuss factors influencing demand
- Apply the principles of demand
- Explain movements along and shifts of the demand curve
- Describe joint demand (complements) and alternative demand (substitutes)
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