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9 Cards in this Set
- Front
- Back
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Demand Curve |
Negative slope. |
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Increase |
To the right. |
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Decrease |
To the left. |
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Income |
Income Increase = Demand Increase Income Decrease = Demand Decrease |
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Population |
Pop Increase = Demand increase Pop decrease = Demand decrease |
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Price of substitutes |
Price of sub increase = Demand for the regular good decreases Price of sub decreases = demand for the regular good increases |
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Price of Complements |
A is a complement of B P of A increases = Demand for B decreases P of A decrease = Demand for B increases |
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Expectations of future price and availability |
P increase in the future = demand decrease today P decreases in the future = demand increase today |
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Tastes |
How people think about the production If a Dr says its bad for you demand will decrease |
