1.3.1 The determinants of the demand for goods and services Flashcards
SHIFTS OF CURVE
- expectations
- interest rates
- compostite demand
- complimentary product price
- price of substitues
- population
- tastes + preferences
- conditions of demand
- real disposable incomes
SHIFTS OF CURVE
Expectations
for prices to rise in the future
SHIFTS OF CURVE
IR
interest rates
SHIFTS OF CURVE
composite demand
good in demand for 2 or more distinctive purposes e.g. yougart, milk
SHIFTS OF CURVE
conditions of demand
factors other than price that lead to a change in demand
SHIFTS OF CURVE
population
size, age, gender affect size of market for many products
SHIFTS OF CURVE
real disposable incomes
after effect of inflation, tax + beneifts
SHIFTS OF CURVE
tastes + preferences
popularity - influence of trends by media, advertising and technological change
SHIFTS OF CURVE
price of complimentary products
e.g. tennis balls + rackets
SHIFTS OF CURVE
price of substitutes
competative demand
a demand curve shows…
the relationship between price and quantity demanded.
