Shifts in Demand

Front

A decrease in demand causes what kind of shift?

Back

A shift to the left

Front

An increase in demand causes what kind of shift?

Back

A shift to the right

Front

Which of the following are factors that cause a shift in demand? Income of the buyers, Consumer trends and tastes, Expectations of future price, supply, and needs, Prices of related goods

Back

All of the above

Front

Kelly recently got a promotion at work, what is she likely to do?

Back

Buy more product

Front

Rhonda recently lost her job, what is she likely to do? Options: Eat ice cream and cry, Buy less product, Buy no product, Buy more product

Back

Buy less product

Front

The mad cow disease caused consumers to purchase less beef and more chicken. What does this mean for the demand?

Back

Demand for beef decreases and demand for chicken increases

Front

The price of beef rising, creating a higher demand for cheaper chicken is an example of what demand factor?

Back

Price of related goods

Front

The price of hot dogs increases, what does this mean for the demand of ketchup?

Back

The demand for ketchup decreases

Front

The price of cream cheese decreases, what does this mean for the demand of bagels?

Back

The demand for bagels increases

Front

The mad cow disease causing an increase in demand for chicken is an example of what factor of demand?

Back

Consumer trends and tastes