Chap 2: Demand and Supply + Price Mechanism acronyms

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Last updated 12:37 AM on 10/1/26
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10 Terms

1
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Acronym for factors that shift demand curve

PTIDE

2
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Acronym for factors that shift supply curve

CPPSE

3
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Acronym for factors that affect PED

SNIT

4
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Acronym for factors that affect YED

NL

5
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Acronym for factors that affect PES

SNET

6
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What does PTIDE stand for?

Price of related goods, tastes and preferences, income of consumers, demographics, expectations of consumers

7
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What does CPPSE stand for?

Cost of production, (no. of) producers, price of related goods, supply shocks, expectations of producers

8
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What does SNIT (PED) stand for?

(availability of) Substitutes, (degree of) necessity, (proportion of) income, time period

9
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What does NL stand for?

Nature of the good, level of income of consumers

10
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What does SNET stand for?

(existence of) Spare capacity, nature of production, ease of accumulating inventory or stocks, time period