Demand Curves
0.0(0)
Studied by 1 person
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt PlayCard Sorting
1/5
There's no tags or description
Looks like no tags are added yet.
Last updated 9:09 AM on 3/28/25
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
6 Terms
1
New cards
What is a movement in demand caused by?
Change in the price of the good itself
2
New cards
What is a shift in the demand curve caused by?
Change in any non-price determinant of demand ( consumers change in income )
3
New cards
A rightward shift represents?
Increase in quantity demanded
4
New cards
Leftward shift represents?
Decrease in quantity demanded
5
New cards
What factors affect the demand for a good?
Its own price, complementary goods, substitute goods, level of income, normal goods, inferior goods, consumers expectations, consumer tastes, unplanned factors, government regulations
6
New cards
Example of its own price factor
Price rises quantity demanded falls, price falls quantity demanded rises
