Demand Curves

demand curve, what causes shifts etc...

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Factors Effecting Demand

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

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

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