Demand

What is the acronym for the factors of demand?
SPITE
1 of 8
What happens to demand for a product when substitutes increase?
Demand decreases
2 of 8
What happens to demand for a product when it's complementary products increase?
Demand increases
3 of 8
What generally happens if population increases?
Demand increases
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What does the I stand for?
Income
5 of 8
What does the T stand for?
Tastes and preferences
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What happens if prices are expected to increase in the future?
Demand increases NOW
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What happens if prices are expected to decrease in the future
Demand decreases NOW
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Other cards in this set

Card 2

Front

What happens to demand for a product when substitutes increase?

Back

Demand decreases

Card 3

Front

What happens to demand for a product when it's complementary products increase?

Back

Preview of the front of card 3

Card 4

Front

What generally happens if population increases?

Back

Preview of the front of card 4

Card 5

Front

What does the I stand for?

Back

Preview of the front of card 5
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