00:05
Let's talk about demand.
00:16
And as we've been looking at demand in this chapter, as we know we have a demand curve.
00:40
If we're interested in drawing a demand curve, let's look at our axes first.
00:49
In the x -axis, we have the quantity demanded, and in our y -axis, we have the price.
01:12
Now let's think how would the shape of this demand curve look like? to think about it first, let's recall our law of demand.
01:38
And what do we know of our law of demand? and this is kind of intuitive if you think about it as well.
01:48
When the price goes up, our quantity demanded goes down.
02:01
And when the price goes down, the quantity demanded goes up.
02:13
So we have an inverse relationship between the two factors...