Supply and Demand

View mindmap
  • Supply and Demand
    • Factors affecting supply
      • Cost of production
      • External shocks
        • Recession
        • Weather
      • Subsidies
      • Introduction of new technology
      • Indirect taxation (VAT)
    • Factors affecting demand
      • Seasonality
        • Summer = ice cream, winter = hot choc
      • Demographics
        • Aging population
      • Competition
        • Price/added value of competitors' products
      • Price
      • Value for money
    • Demand curve
      • Top left to bottom right
        • Demand to the ground
      • Increase = shift right
      • Decrease = shift left
      • Original = D, Shifted = D1
    • Supply curve
      • Bottom left to top right
        • Supply to the sky
      • Increase = shift right

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