vitÂ·riÂ·fy (vÄ­tâ²rÉ-fÄ«â²) v. vitÂ·riÂ·fied, vitÂ·riÂ·fyÂ·ing, vitÂ·riÂ·fies v.tr. To change or make into glass or a glassy substance, especially through heat fusion. v.intr. To become vitreous.
We draw a demand curve to show the relationship between the price of the good and the quantity that consumers are willing to buy. For example, suppose people are willing to buy 20 pounds of strawberries at a price of $2, but are willing to buy 30 pounds if the price falls to $1.
The aggregate demand curve, which illustrates the total amount of goods and services demanded in the economy at a given price level, slopes downward because of the wealth effect, the interest rate... The aggregate demand curve, which illustrates the total amount of goods and services demanded in the economy at a given price level, slopes downward because of the wealth effect, the interest rate... Star Gazing