Topic: Shifts in the
Demand Curve, Chapter 4
Section 2, p85-88
Name:
Teacher:
Class: Economics
Date:
Questions/Main Ideas:
Notes
Give an example:
Normal good-goods consumers demand more of
when their incomes increase
Inferior good- goods you would buy less of when you
can afford better
Complements-two goods that are bought and used
together
Substitutes-goods used in place of one another
Changes in Demand
What is the difference
A change in the quantity demanded reflects the
between a change in
demand for a good at a given price. It is a
quantity demanded and movement up and down the demand curve.
a change in demand?
A change in demand is when consumers buy
different quantity at every price. It is shift of the
entire demand curve
What Causes a Shift?
What causes a change
Income-Changes in income cause an
in demand?
increase/decrease in the demand for normal goods or
increase/decrease in inferior goods
Consumer Expectations-Current demand for a good
is related to its expected future price
Population-Changes in the population will affect the
demand for products
Consumer Tastes and Advertising-People’s tastes
change and are affected by advertising
Prices of Related Goods
How can the demand
Complements-Things that are bought and used
for one good be affected together
by the demand for
Substitutes-goods used in place of others
another good?
Summary: