Part one of term paper
The official definition of demand is as such: Demand is the relationship between price and quantity demanded for a particular good and service in particular circumstances. For each price the demand relationship tells the quantity the buyers want to buy at that corresponding price. The quantity the buyers want to buy at a particular price is ...

Part two of term paper
... need products or services. Cost changes, benefits, and perhaps future goals affect these decisions. The most obvious decision a person bears in buying a product is the price of the product. People have limited means of which they can spend, if spent on one thing, they will not be able to buy another. When the price of a product goes up, the amount of goods purchased will be lessened. Increases in income results in increasing of options of what and how much a person may purchase. Normal goods ...