Demand Curves

demand curve, what causes shifts etc...

HideShow resource information

Factors Effecting Demand

  • Customer preference.
  • Prices of related goods --> complements and substitutes.
  • Consumer income.
  • Expected future prices.
1 of 3

When there is a change of an influencing factor that is not price, there may be a shift to the left or right. For example:

A product get's a really good press review in a magazine. This means that the quantity demanded of the product will rise. This leads the demand curve to shift to the right.

2 of 3

(http://open.jorum.ac.uk/xmlui/bitstream/handle/123456789/715/Items/DD202_3_004i.jpg)

Here, the price has stayed the same, but the quantity demanded has lowered

3 of 3

Comments

No comments have yet been made

Similar Economics & Business Studies resources:

See all Economics & Business Studies resources »See all Macroeconomic Indicators resources »