Please enable JavaScript.
Coggle requires JavaScript to display documents.
Supply and Demand - Coggle Diagram
Supply and Demand
-
Demand: the amount of a good that consumers are willing and able to purchase at different prices during a period of time.
Consumer Income: Consumer income is the money that a consumer earns from either work or investment, such as dividends distributed by companies to its shareholders and the gain realized on the sale of an asset, such as a house
Price of Substitute Goods:
Substitutes are goods where you can consume one in place of the other. The prices of complementary or substitute goods also shift the demand curve
Price of Complementary Goods: When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases
Consumer Tastes and Preferences: Consumer preferences are defined as the subjective (individual) tastes, as measured by utility, of various bundles of goods
Consumer Expectations of Future Prices: how much customers expect prices to change relative to previous prices and prices of similar products
-
-
-
-
-