Determinants of Demand
By 111088ec, Updated
Example for Students
Determinant of Demand: Income
Income Increase = Demand Increases Income Decreases = Demand Decreases (Inferior Goods move in the opposite direction)
A 25% raise means I can buy a Keurig for my classrom!
Determinant of Demand: Price of Related Goods
Complements: Goods used together; Price of one good increases, Demand for the other decreases (and vice versa)
Coffee doubled in price. Guess I won't need to buy as much creamer. #myhearthurts
Determinant of Demand: Tastes & Fads
So not fetch. Never buying those boots.
Guys! Check out my COOL boots!
Popular g/s? Demand increases. Unpopular? Demand decreases.
Explore Our Articles and Examples
Try Our Other Websites!
Photos for Class
– Search for School-Safe, Creative Commons Photos (It Even Cites for You!
– Easily Make and Share Great-Looking Rubrics