Goods that we consume/use together

• Complements

• Substitutes

• Tastes and Preferences

• Disposable Income

Goods that we use instead of one another

• Complements

• Substitutes

• Tastes and Preferences

• Disposable Income

This is affected by the weather, advertising, and peer pressure

• Complements

• Substitutes

• Tastes and Preferences

• Disposable Income

Income after paying income tax

• Complements

• Substitutes

• Tastes and Preferences

• Disposable Income

Which graph shows an INCREASE in DEMAND?

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• 4

Which graph shows an DECREASE in DEMAND?

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• 2

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Which graph shows an DECREASE in QUANTITY DEMANDED?

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Which graph shows an INCREASE in QUANTITY DEMANDED?

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Sam loves subway wraps .He will often buy a cookie with his wrap. The price of wraps have recently increased.

How would you show an increase in the price of subway wraps on the demand curve for subway wraps? (Identify which graph shows the correct change)

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Sam loves subway wraps .He will often buy a cookie with his wrap. The price of wraps have recently increased.

How would you show an increase in the price of subway wraps on the demand curve for cookies? (Identify which graph shows the correct change)

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• 2

• 3

• 4