Determinants of Demand

Platform shoes were trending in the early 2000s, they are now out of style and demand has decreased. This is an example of what type of determinant of Demand.

• Income of Buyers

• Expectations of Price

• Tastes and Preferences

• Related Goods- Complement

McDonald's just came out with a new burger and it looks delicious. Demand for this burger you have seen on TV has risen. This is an example of what type of determinant of Demand.

• Income of Buyers

• Expectations of Price

• Tastes and Preferences

• Related Goods- Complement

A good that can be used as a replacement for another.

• Related Good - Complementy

• Related Goods- Substitute Goods

• Preferences and Taste

• Number of Buyers

If Powerade lowers their price, what will happen to the demand for Gatorade?

• It will increase.

• It will decrease.

• It will stay the same.

• People will buy more Pepsi.

A good whose use is directly related to the use of another good: paired good

Ex: peanut butter and jelly,

• Related Goods:

  Complementary

• Related Goods:

  Substitution

• Tastes and Preferences

• Income Change

If the price of tortilla chips increases, the demand for salsa will

• go up

• go down

• Stay the same

Markers and coloring books are complementary goods. The price of the coloring books has recently gone up, what will happen for the demand of the markers.

• It will decrease.

• It will increase.

• It will stay the same.

• A change will not happen.

The money buyers have available to purchase a good or a service.

• Expectation of Buyers

• Number of Buyers

• Income of Buyers

• Related Goods - Substitution

As income increases, demand for goods and services ___________________.

• increases

• decreases

• stays the same

The number of consumers willing to and able to buy a good or a service.

• Income of Buyers

• Tastes and Preferences

• Expectations of buyers

• Number of buyers