Transcribed text From Image: Economists use the term "demand" to refer to: a particular price-quantity combination on a stable demand curve. The table amount spent on a particular commodity over a fixed time period. an upsloping line on a graph that relates consumer put hoses and product price a schedule of various combinations of market prices and amounts demanded. When the price of a product increases, a consumer the able to buy less of it with a given money income. This describes they cost effect inflationary effect. Income effect subtraction effect An increase in the price of a product will reduce the amount of it supply curves are the higher price that
Expert Chegg Question Answer:
63. A schedule of various combinations of market price and amount demanded.
64. Income effect
Explanation: when price increases, the real income of consumer decreases.
65. Consumer will substitute for the other products for the one whose price has risen.
66. The downward sloping demand curve.
67. The substitution effect