Econ- Law of Supply and Demand
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12 Terms
1
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Determinants of Demand
Taste and Preferences
2
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Determinants of Demand
Price of Related Good (Complements and Substitutes)
3
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Determinants of Demand
Income
4
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Determinants of Demand
Expectations (future)
5
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Determinants of Demand
# of buyers
6
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Determinants of Supply
Input Prices
7
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Determinants of Supply
Technology
8
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Determinants of Supply
Expectations (future)
9
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Determinants of Supply
# of sellers
10
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P1
Pressure to lower price and thus make less
11
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P3
Equilibrium
12
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P2
Pressure to make more thus raise price
Note 
Flashcards (20)