1.2 Markets Flashcards

1
Q

Factors influencing demand

A

Income
Price/ availability of substitute and complementary goods
trends/ preferences
seasons

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Factors influencing supply

A

Cost of production
technology
taxes
subsidies
shocks

How well did you know this?
1
Not at all
2
3
4
5
Perfectly