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Economics Theme 1 revised > 3- Demand > Flashcards

3- Demand Flashcards

1
Q

What causes movements up and down the demand curve?

A

Price changes

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2
Q

Contraction in demand

A

Price rises, demand falls

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3
Q

Expansion in demand

A

Price falls, demand rises

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4
Q

Conditions of demand

A 
Population
Advertising
Substitutes
Income
Fashion/tastes
Interest rates
Complements
Government legislation
Expectations
Season
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5
Q

What do changes of demand do to the demand curve?

A

Shift the demand curve left or right.

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Economics Theme 1 revised (30 decks)

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