Explain the law of demand why does a demand curve slope downward? What are the determinants of demand?

Answer all the questions given below giving examples wherever necessary.1. When economists analyze how individuals make choices, they divide the decision process into two steps. Define these two steps and label the resultant model.2. Provide a full definition of Demand, Using real examples, describe 2 factors that can shift Demand curve to the right. Explain the law of demand why does a demand curve slope downward? What are the determinants of demand? What happens to the demand curve when each of these determinants changes? Distinguish between a change in demand and a change in the quantity demanded noting the cause(s )of each? 3. Explain and draw the money flow within a circular flow model, describing all directions of money flow among all participants.