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1 basics in 60 seconds lets go demand is the willingness and ability of consumers to buy a product at a given price at a given time period this is a demand chronograph a graph for demand quantity demanded is always on the x axis and the price is always on the y axis dont forget to write d which denotes demand as written here law of demand is as the price increases the demand decreases for almost all products shifts and moments and the demand curve movement is caused by price if it moves down it then it is an extension but if it moves upwards then there is a contraction along the demand curve shift shift is caused by any other factor except price this is a movement this is a shift thank you very much for watching price elasticity will be covered in the next video