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DEMAND WORKSHEET Complet.e tt}e table below. For each determinant of demand: indicate whether demand will increase or decrease; e provide an explanation as to why. Determinant of demand Demand Explanation increases or decreases? il paatt oLt Necke Population increases \ (hered W{PC"W Exer('.lse 4. Idell l'ylll 'he (let ¢ d d 1 ti i (9 min 0 in ae g ants of demand. You have seen have ho an increase i i V! V! W man S depi Plfted ona %tl;apcll'l by a shift in the demand curve When the demand curv i : i E S R curv: S}fil;tss upward and tp t.he right, this is indicative of an increase in demand 5 FWahctors i shi 'to the left, this is indicative of a decrease in demand . esult in a change in demand are the determinants of demand . es naecad. 5 Population decreases Price of substitute increases Price of substitute decreases Price of complementary good increases Price of co decreases Product becomes @ popular fad (change in taste of buyers Product now out of fashion (change in taste of buyers There is an expectation that the price of the Qroduct will soon fall There is a fear that the economy will go into 2 recession where mplimentary good many firms will fail and uncmpluymcnt will increase lecrees) [ess clevenel : e Skfiji?;; 3 Increase in most peoples' income 1 h u/m%(/ A en 1O DT i nols visC€. Funncecles!.
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