1. This PowerPoint has sound so make sure you have headphones on
This PowerPoint has sound so make sure you have headphones on. I apologize that the sound quality is not good, but I had to record it without my good mic. You can still understand the recording.

2. Supply and Demand

3. Change in Quantity demand
ONLY deals with PRICE!!

4. Change in Quantity demand is a MOVER
NO NEW CURVE IS NEEDED

5. CHANGE IN DEMAND deals with:
Something other than price changing:
INCOME
CONSUMER TASTES
SUBSTITUTES
COMPLEMENTS
CONSUMER EXPECTATIONS
MARKET SIZE

6. Change in demand is a SHIFTERP Q
A NEW CURVE IS NEEDED AND IT CAN SHIFT IN OR OUT

7. So starting with problems…
1. A new study shows that coconut oil will help you lose 10 pounds per month. P Q
DETERMINANT:
CONSUMER TASTE

8. 2. Dunn tire decides to raise the prices of all its tires
2. Dunn tire decides to raise the prices of all its tires? What will happen to the demand for Dunn Tires? P Q

9. 3. Next week is projected to be 95 degrees
3. Next week is projected to be 95 degrees. What will happen to the demand for popsicles? P Q
DETERMINANT:
CONSUMER TASTE

10. 4. Toyota’s experience engine failures on many of their SUV models
4. Toyota’s experience engine failures on many of their SUV models. What will happen to the demand for Toyota SUV’s? P Q
DETERMINANT:
CONSUMER TASTE

11. 5. Toyota’s experience engine failures on many of their SUV models
5. Toyota’s experience engine failures on many of their SUV models. What will happen to the demand for Honda’s SUV’s? P Q
DETERMINANT:
SUBSTITUTE EFFECT

12. 6. Chipotle lowers their prices to attract new customers?Q

13. 7. A really bad hurricane season is predicted in the Caribbean
7. A really bad hurricane season is predicted in the Caribbean. What will happen to the demand for Caribbean cruises? P Q
DETERMINANT:
CONSUMER TASTE