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Published byKhalil Bramlet Modified over 2 years ago

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YESTERDAY WE SAID … IF PRICE GOES DOWN …. THE QUANTITY DEMANDED GOES UP And vice versa

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SPEAKING IN PRECISE TERMS AS AN ECONOMIST…. “ A “change in quantity demanded” means there has been a change in …… The price of the product This is illustrated graphically by movement up and down the demand curve

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A “change in demand” means.. A non-price factor (determinant) has caused demand to increase or decrease

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5 Determinants of Demand T I M E R ASTES NCOME ARKET SIZE XPECTATIONS ELATED GOODS, PRICE OF

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A CHANGE IN DEMAND IS SHOWN GRAPHICALLY BY … A SHIFT IN THE DEMAND CURVE IF THE DEMAND CURVE SHIFTS TO THE RIGHT THEN DEMAND HAS… INCREASED IF THE DEMAND CURVE SHIFTS TO THE LEFT THEN DEMAND HAS DECREASED

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Partial Word Bank American Express Right Guard Taco Bell Diet Coke Pepsodent Burger King Visa MasterCard Apple Toyota Cheverolet Whisk Wendy’s

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Chapter 6 Combining Supply and Demand. Equilibrium- where the supply and demand curves cross. Equilibrium determines the price and the quantity to be.

Chapter 6 Combining Supply and Demand. Equilibrium- where the supply and demand curves cross. Equilibrium determines the price and the quantity to be.

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