are found by multiplying the price of a product by the quantity demanded for

Are found by multiplying the price of a product by

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are found by multiplying the price of a product by the quantity demanded for any point along the demand curve Determinants of a true change in demand 1. Consumer Income: when income goes up, you can afford to buy more goods and services. The opposite happens when income goes down. 2. Consumer Tastes: Factors like fashion trends, advertising , and changes in season can affect consumer tastes. If consumer want more of an item , they are going to buy more of it at each and every price and if people get tired of a product they will buy less at each and every price. 3. Substitutes: a change in the price of related products can cause a change in demand. If the price of a product goes up most likely people are going to buy its substitute. 4. Complements: when the price of one product goes down then is going to increase the demand of its relate good. Ex: price of computer go down people are going to buy more computers and software. 5. Change in expectations: if new technology comes out then people are going to wait for that and going to buy less of the item that the new technology is going to replace or if people know something is going to stop being made then they are going to stock up raising the demand.
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