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Micro1 > Demand and supply In A Market > Flashcards

Demand and supply In A Market Flashcards

1
Q

What causes movements along demand curve

A

Due to fall or rise in price

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2
Q

What factors cause a shift in demand curve

A 
Income 
Advertising 
Substitutes 
Complementary 
Fashion 
Quality 
Season 
Law 
Expectations
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3
Q

What does composite demand mean

A

Good demanded for more than one purpose

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4
Q

What does derived demand mean

A

Demand for one good or service comes from demand for another good or service

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5
Q

Factors which cause a shift in supply

A 
Raw materials 
Technology 
Productivity 
Regulations 
Wages 
Subsidies 
Indirect tax 
Expectations 
Objectives 
firms
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Micro1 (3 decks)

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