Tom's Chart

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  • Hey John, my son is learning about change in demand in his econ class, can you explain to me what a change in demand is?
  • Hey Sarah, I'll be gladly to explain! As you know i work as a sales assistant
  • WOW! How about on a national level? What would happen?
  • I make $3,000 per month, recently I have increased my sales of luxury products. If I get promoted, I will earn $5,000 per month. Allowing me to spend on basic good and luxury goods. Expanding my budget, making me able to spend more then I can before! Like supplies for my house.
  • I see, so what happens when people get laid off and consumer income decreases?
  • On a national level, if consumer income increases the demand for goods and services increase. Thereby shifting the demand curve upward.
  • MORE CANDY!
  • Oh no! What else can happen?
  • You see the young couple? He got laid off, due to constant lateness and his income decreased. It'll interfere with what they can buy now.
  • increase! increase!
  • bread and fruit
  • Nationally, if consumer income decreases, the demands of goods and services will too decrease. Therefor, shifting the demand curve downward.
  • Hi mom, Hi Mr. Fuentes! Do you know anything about change in demand?
  • Thank you so much John!
  • There you have it Sarah, now you can help alex with his homework
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