Supply and Demand

Supply and Demand - demand If apple prices increases there will be a greater demand for plums The difference between a shift and a movement price

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If the prices of a TV or another item are expected to fall then the demand will fall. Substitutes in consumption can be rice and pasta Demand=> If the price of plums goes down the demand of plums goes down there will be no shift in the
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Unformatted text preview: demand. If apple prices increases there will be a greater demand for plums. The difference between a shift and a movement, price changes causes movement, but if other factors happen and the price stays the same that’s a shift....
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This note was uploaded on 02/18/2011 for the course ECON 201 taught by Professor Cummings during the Spring '08 term at Loyola Chicago.

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