Principles of Economics: Microeconomics - Graphing a Demand Curve from a Demand Schedule, and How to Read a Demand Graph

The demand curve is the line in a supply and demand graph that shows consumer behavior: at a given market price, how many units will consumers purchase? (Or, reading the chart in the opposite direction, how much is the marginal buyer willing to pay for the nth unit?) Key topics in the video include: - Definition of the demand curve - Graphing a demand curve, starting from data in a demand schedule - Why the demand curve slopes downward - Two ways to read a demand curve: horizontal and vertical (and how each helps us understand consumer preferences and behavior in the market) LEARNERS: Test your knowledge of this topic with a set of practice questions: https://mru.io/0k0 TEACHERS: This topic is covered in MRU’s free Supply, Demand, and Equilibrium Unit Plan–7 days of lesson plans including videos, interactive tools, and classroom activities. These resources are always available to teachers for FREE at MRU.org: https://mru.io/8e7173