Demand and supply
- Created by: Lottie
- Created on: 01-12-11 09:37
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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…
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