Determinants of Supply & Demand

The amount of a product producers are willing to sale at different prices.

• Demand

• Supply

The amount of a product or services consumers are willing to buy at different prices.

• Supply

• Demand

We use the equilibrium to help us find the?

• Price Axis

• Quantity Supplied

• Market Price

• Supply and Demand Curves

Organize these determinants into the right categories

Groups:

(a) Determinants of Supply

,

(b) Determinants of Demand

• Cost of Factors of Production

• Profit opportunity making something else

• Government Policies

• Number of Sellers in the Market

• Substitute Goods

• Subsidies

• Complimentary Goods

• Technology Advancements

• Taxes

• Number of Consumers

• Consumer Expectations

• Consumer Income

• Consumer Taste

Batteries and flashlights are?

• Complimentary Goods

• Consumer Income

• Change in technology

• Subsitutes

The demand for diapers went up with record high new babies this past month.

• Consumer Tastes

• Number of Consumers

• Substitutes

• Number of Sellers

New robots make cars faster and cheaper will shift the?

• Supply Curve

• Demand Curve

Change in consumer taste for products like silly bandz?

• Supply Curve

• Demand Curve

Change in the price of factors of production?

• Supply Curve

• Demand Curve

People who are lactose intolerant who like milk may reach for almond or oat milk instead.

• Compliment

• Substitute

• Consumer Expectations

• Consumer Taste