The _______ refers to how many more or fewer people buy a product when its price changes.

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The extensive margin refers to how many more or fewer people buy a product when its price changes. The intensive margin, on the other hand, refers to how much each individual consumer changes their purchasing behavior in response to a price change. Nominal demand refers simply to the quantity of a good or service that consumers are willing to buy at a given price, while effective demand takes into account consumers' ability to pay for the product. Fuzzy demand is not a recognized term in economics.

The _______ Refers to How Many More or Fewer People