1. Section 2: Changes in Demand
Chapter 3: Demand
Section 2: Changes in Demand
(56-62)

2. Determinants of Demand
Consumer tastes & preferences
Market size
Income
Prices of related goods
Consumer expectations

3. CONSUMER TASTES & PREFERENCES
OUR TASTES CHANGE WHICH AFFECTS DEMAND

4. MARKET SIZE BIGGER THE MARKET THE HIGHER THE DEMAND
GOVERNMENT, PRIVATE BUSINESSES, AND TECHNOLOGY AFFECT MARKET SIZE

5. INCOME INCOME INCREASES PEOPLE HAVE MORE TO SPEND
BUY BETTER QUALITY BEEF

6. Price of Related Goods
Substitute goods – increase in products price leads to increased demand for substitute

7. Complimentary Goods – goods used with other goods
Price of Related Goods
Complimentary Goods – goods used with other goods

8. Consumer Expectations
Getting raise may buy something though you have not received your raise yet