Demand factors

Question 1

Factors that may shift the demand curve

Answer 1

Advertising, income, fashion and tastes, price of substitutes, price of compliments, demographic changes

Question 2

Disposable income

Answer 2

Income that is available to someone over a period of time to spend; it includes state benefits but excludes direct taxes

Question 3

Inferior goods

Answer 3

Goods for which demand will fall if income rises or rise if income falls

Question 4

Normal goods

Answer 4

Goods for which demand will increase if income increases or fall if income falls

Question 5

Substitute goods

Answer 5

Goods bought as an alternative to another but perform the same function

Question 6

Complementary goods

Answer 6

Goods purchased together because they are consumed together

Question 7

Demography

Answer 7

Study of human populations and the way in which they change

Question 8

Infrastructure

Answer 8

Basic systems and structures that a country needs to make economic activity possible, for example, transport, communication and power supplies