demand

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  • Created by: ishah
  • Created on: 11-05-13 18:16
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  • demand
    • quantity of G&S consumer willing + able to buy at price ceteris parabus
    • shifts
      • tastes
      • income
      • season
      • quality
      • substitutes
      • expectations
    • substitutes - demand^ one product price^ in another
      • positive relationship
    • complements- go together
      • negative relationship
    • chnage in price movement along demand curve
    • PED
      • responsiveness D to chnage in P
    • XED
      • change in D of x to chnage in P of y
    • YED
      • income ^ D^ or down
        • if - then inferior
        • if + normal
  • negative relationship

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