Demand and supply

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  • Created by: Lottie
  • Created on: 01-12-11 09:37

Demand

  • effective demand- when our demand is backed up by money
  • price increase= demand decrease vice a versa

Shifts due to:

  • Income- more income= more demand (NORMAL GOOD)
  • Population- increase population= increase demand
  • Change in fashion- in fashion = high demand vice a versa
  • Change in legislation…

Comments

izzy

could include more reasons for a shift in supply

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