In: Economics
List the factors change demand and shift the demand curve. Tell what happens to demand and the demand curve when there is an increase in the factor
When there is Shift on demand curve then the demand curve shift either rightward or leftward
if demand increases then the demand curve shift right and if demand decreases then the demand curve shift to the left
demand curve is inversely sloped in nature because of the inverse relationship between price and quantity demanded
some of the factor that causes the shift of the demand curve are-
1.Income level of consumers -In this as the income level of the consumer increases the demand by him also increases and this causes the shift of demand curve to the right
2.Expectation level of consumer- If the consumer finds that in near future the price is going to raise then today he will buy more and this will cause the shift of demand curve to the right
3.Taste of preferences- If a person like a particular product say for example sweet then he will demand it more and this will cause the shift of demand curve to the right
We were unable to transcribe this image
Expectahan level I of Consumer
Taste and preferences