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1465271
Economics
Descrição
Changes in the demand curve - why?
Sem etiquetas
economics
demand
demand curve
changes
Mapa Mental por
mickileader.ml
, atualizado more than 1 year ago
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mickileader.ml
aproximadamente 10 anos atrás
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Resumo de Recurso
Economics
Number of Consumers
If consumers increase, so will demand, because there will be more consumers.
Price Expectations
If prices are expected to rise then demand will increase, as consumers will think they'll have to pay more if they wait.
Change of Income
less income means less demand. (not as much money to spend). More income means more demand, on normal goods, not on inferior goods.
Price of Substitutes
If there are changes in price of competing products then there will be a change in demand for the original product.
Complementary Products
If price for a complementary product increases then the demand for the original product will decrease.
Law
Legal changes can change demand - cigarettes - banning of public smoking.
Adverts
A successful advertising campaign can increase demand, due to consumers being more aware of the product and it's benefits.
Weather Conditions
Some products are seasonal, therefore the weather affects demand
Fashion
Products in fashion will increase in demand
Changes in Quality/Tastes
Improvements to a product will increase a demand
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