https://www.stlouisfed.org/education/economic-lowdown-video-series/episode-2-demand ( please answer the questions from the video ) 1. According to the video, what are the two components of demand? Willingness to purchase and ability to pay. 2. What happens to the host's demand for chocolate bars as the price goes up? Went down. He will buy one bar if the price goes up. 3. What are the only two variables that involved in the law of demand? Price and quantity. 4. True or False: The demand curve in the marketplace stays still. False 5. Describe the only two ways that the demand curve can shift. It just shifts back and forth. 6. What would happen to the price of a chocolate if the market was experiencing a shortage? The chocolate prices will rise. 7. Which way does the demand curve shift if there is an increase in the general demand of a good? Which way if there is a decrease? 8. The first thing that causes a demand curve to shift is a change in___________________ expectations. Provide an example of this. 9. The second that causes a demand curve to shift is a change in consumer's _________________ or ____________________. What is something that has gone out of style in your time as a high school student? 10. The third factor that causes a demand curve to shift is a change in the _________________ of consumers in the market. 11. The fourth factor that causes a demand curve to shift is a change in __________________. What would happen to the demand curve for chocolate if there was recession? 12. The fifth factor that causes a demand curve to shift is a change in the price of _____________________ good. What would be a comparable candy to chocolate? 13. The sixth and final factor that causes a demand curve is change in the price of a ________________________ good. What are somethings that people purchase alongside chocolate? 14. What is the only thing that causes the quantity demanded to change? 15. True or False: The price of a good changes when the demand curve shifts