Shifts Of The Demand Curve
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MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
Income
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Scenario: Jessica worked at McDonalds as she went to college, but now that she's out of college she will begin to work as a surgeon.
Answer: Jessica's income will raise and will switch from inferior goods to normal goods.
Factor: income
Consumer Expectations
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Scenario: Derik went to the Apple Store to buy a new phone, as he went to the counter the cashier told him that it would be on sale tomorrow for a cheaper price. What is likely to happen?
Solution: At that moment Derik's demand for the item goes down.
Factor: Consumer Expectations
Population
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Scenario: Everyone wanted the new phone that just came out, people lined up for miles outside the store just to get their hands on one. What happens because of this?
Solution: the demand goes up because everyone wants it.
Factor: population
Advertising
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Scenario:Apple produced a commercial saying that all products are on sale for half off starting tomorrow. What will happen?
Solution: demand for Apple products will rise.
Factor: Advertising
Prices of Related Goods
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