Supply & Demand Curves - Economics As Level

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  • Created on: 03-03-13 12:27
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Market Reason for Change Diagram Surplus or Change in Demand Curve Supply Curve Change in
Change Shortage Price Quantity
Increased Successful advertising/change in Market Increase Shift right No shift Increase
Demand fashion shortage Move up
Increase in income (normal good)
Decrease in income (inferior good)
Seasonal change
Increased population
Increase in price of substitutes
Reduction
Decrease Market surplus Decrease Shift left No shift Decrease
d Decrease in income (normal good) Move down
Demand Increase in income (inferior good)
Seasonal change
Decreased population
Decrease in price of substitutes
Increase in price of complements
Increased Reduced cost of production (new Market surplus Decrease Move down Shift right Increase
Supply technology/lower wages)
New raw materials
Reduction in indirect taxation
Increased subsidies
Increased supply of a good in joint
supply
Reduced demand for a good with
composite demand

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Decrease Increase cost of production (higher Market Increase No shift Shift left Decrease
d Supply wages) shortage Move up
Exhaustion of raw materials
Increased indirect taxation
Reduced subsidies
Reduced supply of a good in joint
supply
Increased demand for a good with
composite demand…read more

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