Demand - Wealth or Income Expectations about future price...

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The lower the price of a good, the more people are willing to buy it, all else constant (ceteris paribus)
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∆ Price of a related good
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∆ Price of a related good Substitutes
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∆ Price of a related good Substitutes: serve a similar purpose
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∆ Price of a related good Substitutes: serve a similar purpose Complements
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∆ Price of a related good Substitutes: serve a similar purpose Complements: enhance satisfaction of another good
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∆ Wealth or Income
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∆ Wealth or Income Normal Good: demand increases as income increases
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∆ Wealth or Income Normal Good: demand increases as income increases Inferior Good: demand decreases as income increases
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∆ Price of a related good ∆ Wealth or Income
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∆ Price of a related good ∆ Wealth or Income ∆ Expectations about future price
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∆ Price of a related good
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Unformatted text preview: Wealth or Income Expectations about future price Taste or fashion Price of a related good Wealth or Income Expectations about future price Taste or fashion Number of people served by the market Price of a related good Wealth or Income Expectations about future price Taste or fashion Number of people served by the market Outside force The higher the price, the more of a good or service people are willing to make available, all else constant (ceteris paribus) Price of inputs Technology Price of items made from same resources Number of sellers in the market Expectations about future price Outside force...
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Demand - Wealth or Income Expectations about future price...

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