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- [Instructor] Weve been talking about the law of demand and how if we hold all else equal, a change in price, if price goes up, the quantity demanded goes down, and if price goes down, the quantity demanded goes up. So if you hold all else equal, ceteris paribus, we are just moving along this curve depending on what price. But what we started talking about is what happens when you change some of those things that we have been holding equal, how does that change demand? In the last video, we talked about the price of related goods, price of related goods. And if the price of related goods change, both complements and substitutes, how that might change the, how that might increase or decrease demand, the entire curve, not just one particular scenario. Now lets talk about another one of those factors that weve been holding constant, and think about how that would change demand, the entire curve, if we were to change that, and thats expectations of future prices. Ill do that in this
