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What happens to the determinant for you to get the shift? Demand Rightward Shift Leftward Shift 1. Population Population increases Population decreases 2. Income Inferior
What happens to the determinant for you to get the shift?
Demand | Rightward Shift | Leftward Shift |
---|---|---|
1. Population | Population increases | Population decreases |
2. Income | ||
Inferior good | Income decreases and results to higher consumption of inferior good | |
Luxury good | Increase in income | |
Normal Good | Increase in income | Decrease in income |
3. Taste and Preferences | Trend | Out dated |
4A. Price of Substitutes | Original good increases in demand when the price of substitute goods increases Substitute goods increases in demand when... | |
4B. Price of Complimentary goods | ||
5. Consumer foresight | Positive outlook | If people feel that they are better-off in the future their consumption at present will be... |
6. Other factors | In occasion |
Demand | Rightward Shift | Leftward Shift |
---|---|---|
7. Number of Sellers | Increase number | Lesser seller |
8. Cost of Production | Decrease Price of raw materials | Increase in P of raw materials |
9. Goal of sellers | ||
10. Price of Production | ||
Substitutes | ||
11. Other factors |
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