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Economics 2.2 - Coggle Diagram
Economics 2.2
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Demand
What is demand?
The quantity of a good or service that consumers are willing and able to buy at a given price in a given time period
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How do you draw demand?
The demand curve is plotted sloping downwards between price on the vertical axis and quantity demanded on the horizontal axis. 
Key Vocab
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Subsidy - An amount of money the government directly gives to firms to encourage production and consumption
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Elastic - When the percentage change in quantity demanded is greater than the percentage change in price
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Inelastic - when the percentage change in quantity demanded is less than the percentage change in price
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