Economics- Shift in the Demand Curve

PASIFIC

Population

Demand will increase as the no. of people in a country increase

Advertising

Higher demand as higher awareness of a good or service

Substitutes - price of

If the price of one rises, the demand for a cheaper alternative rises

Income+ Economic Situation

As incomes rise, consumers can afford more goods and services at a set price

However, inferior goods may see a fall in demand. Or the other way around

Fashion+ Trends

People will follow the current trends so products may see a rise or fall in demand

Interest Rates+ Gov. Policies

People may be more likely to take a loan, or the gov. may pass a law making a good compulsory e.g car seats

Complementary Goods- price of

Goods and services that go together. Demand will probably rise/fall together