Econ - Supply and Demand Shifters

normal good increase of income

increase of demand

inferior good increase of income

decrease of demand

preferences increase

increase of demand

number of potential buyers increase

increase of demand

price of substitute good increases

increase of demand

prices of complementary good increases

decrease of demand

consumer expected future price increases

increase of demand

consumer expected future availability increases

decrease of demand

input price increases

decrease of supply

technology increases

increase of supply

number of potential sellers increases

increase of supply

price of alternative production goods increases (opportunity cost)

decrease of supply

seller expected future price increases

decrease of supply

seller expected future availability increases

increase of supply

decrease D, decrease S

undefined P, decrease Q

decrease D, unchanged S

decrease P, decrease Q

decrease D, increase S

decrease P, undefined Q

unchanged D, decrease S

increase P, decrease Q

unchanged D, unchanged S

unchanged P, unchanged Q

unchanged D, increase S

decrease P, increase Q

increase D, decrease S

increase P, undefined Q

increase D, unchanged S

increase P, increase Q

increase D, increase S

undefined P, increase Q

E>1

elastic

E<1

inelastic

E=1

unit elastic

E=0

perfectly inelastic

E=undefined

perfectly elastic

Ei>0

normal good

Ei<0

inferior good

Ecp>0

substitute good

Ecp<0

complementary good

shifts in quantity demanded/supplied

shifts along demand/supply curve

shifts in demand/supply

shift of entire demand/supply line

TR>0

inelastic

TR<0

elastic

TR=0

unit elastic