Chap 4 Flashcards
1
Q
Demand curve will shift # 1
A
change in income
2
Q
Demand curve will shift # 2
A
change in the price of related goods substitutes or complementing goods
3
Q
Demand curve will shift #3
A
Changes in consumer expectations regarding future prices or income
4
Q
Demand curve will shift # 4
A
Changes in tastes or preferences
5
Q
Demand curve will shift # 5
A
Changes in population
6
Q
Demand is the negative
A
relationship between price and quantity
7
Q
Supply is the positive
A
relationship between price and quantity
8
Q
Supply curve will shift #1
A
Change in the price of alternative goods
9
Q
Supply curve will shift #2
A
Change in the cost of inputs
10
Q
Supply curve will shift #3
A
Change in expectations
11
Q
Supply curve will shift #4
A
Change in technology
12
Q
Supply curve will shift #5
A
Change in the number of suppliers
