Demand is defined as the relationship between the quantity demanded and the price of the good when all other influences on buying plans remain the same. When those influences don't remain the same demand changes. We depict that change by shifting the demand curve to the right (increase) or to the left (decrease.)

1. Pick a business that you know something about or can find information on. Describe the business and its main product or service. (1 points)
2. For each of the factors that influence Demand listed below, describe how your main product or service (described in 1.) is affected.

2.1 Price of substitutes - What is a substitute for the product or service? Is the substitute's price increasing or decreasing? How does this affect demand for your product or service and does it indicate that your demand is increasing or decreasing? (3 points)

2.2 Price of complements - What is a complement for the product or service? Is the complement's price increasing or decreasing? How does this affect demand for your product or service and does it indicate that your demand is increasing or decreasing? (3 points)

2.3 Consumer Income - Is consumer income increasing or decreasing? How does this affect demand for your product or service and does it indicate that your demand is increasing or decreasing? (3 points)

2.4 Consumer tastes & preferences - How are consumer preferences changing? How does this affect demand for your product or service and does it indicate that your demand is increasing or decreasing? (3 points)

2.5 Consumer expectations of income - Do consumers expect their incomes to increase or decrease? How does this affect demand for your product or service and does it indicate that your demand is increasing or decreasing? (3 points)

2.6 Consumer expectations of price (of your product or service.) - Looking ahead, do consumers expect the price of your product or service to increase or decrease? How does this affect demand for your product or service and does it indicate that your demand is increasing or decreasing? (3 points)

2.7 Demographics - Number of Consumers (Buyers) - Is the number of buyers increasing or decreasing? How does this affect demand for your product or service and does it indicate that your demand is increasing or decreasing? (3 points)

1. Based on your answers to 2.1 - 2.7, is the demand for your product or service increasing or decreasing? Why? (3 points)

Please type up your answers