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Criado por 09serukenyahol
mais de 9 anos atrás
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Demand
The Law of demand states..
Demand curve
'Consumers aim to maximise their utility'
What does this mean?
Demand curve negatively or positively sloping?
Demand curve is a graph showing....
Name the two effects concerned with the demand curve.
- price determinants
Name the non-price determinants of demand
Income
Substitutes
- give an example
- what would the demand curves look like
Complements
Unrelated goods
Tastes/ preferences
changes in size of population
changes in structure of population
change in income distribution
government policy changes
expectations
Seasonal changes
Difference between
1. movement along the demand curve
2. shift in the demand curve
Linear demand function