Econ- Law of Supply and Demand

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12 Terms

Determinants of Demand

Taste and Preferences

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Determinants of Demand

Price of Related Good (Complements and Substitutes)

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Determinants of Demand

Income

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Determinants of Demand

Expectations (future)

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Determinants of Demand

# of buyers

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Determinants of Supply

Input Prices

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Determinants of Supply

Technology

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Determinants of Supply

Expectations (future)

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Determinants of Supply

# of sellers

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Pressure to lower price and thus make less

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Equilibrium

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Pressure to make more thus raise price

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