Economics Supply and Demand Mnidmap

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  • Created by: Beswick26
  • Created on: 03-12-15 11:55
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  • Demand
    • The Law of Demand
      • As price rises, demand for the good or service falls
    • Factors that affect demand
      • Income level
      • Advertising and branding
      • Prices of substitutes and complements
      • Fashion
    • The quantity of a good or service that consumers are willing and able to purchase at a particular price
  • Supply
    • The quantity of a good or service that businesses will offer for sale at a particular price
    • Factors that affect supply
      • Cost of raw materials
      • Wage rates - overtime may need to be paid for higher output
      • Productivity of the workers



What Is this pal


jk its average to above average

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