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Market Reason for Change Diagram Market Change in Movement Movement Change in
Change Surplus or Price along the Along the Quantity
Shortage? Demand Supply Curve
Increased Successful Advertising or change in Fashion. Market Increase Contraction Extension Increase
Demand Increase in Income (normal good). Shortage
Decrease in Income (inferior good).…

Page 2

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Decreased Increase cost of production, (higher wages). Market Increase Contraction Extension Decrease
Supply Exhaustion of Raw Materials. Shortage
Increased Indirect Taxation.
Reduced Subsidies.
Reduced supply of a good in Joint Supply.
Increased demand for a good with composite


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