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This study guide covers the fundamentals of demand in AP Macroeconomics, including the difference between demand and quantity demanded. It explains the Law of Demand, the INSECT acronym for determinants of demand (Income, Number of Buyers, Substitutes, Expectations, Complements, and Tastes), and how these determinants shift the demand curve. It also provides practice multiple-choice and free-response questions focused on demand and its interaction with supply, along with key exam tips.
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Question 1 of 12
Ready to boost your AP Macro score? 🚀 Demand is defined as the willingness and ________ to purchase a product at various prices.
desire
ability
need
suggestion