Supply and Demand Shifters Preparing to Teach HS Economics 2014.

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Presentation transcript:

Supply and Demand Shifters Preparing to Teach HS Economics 2014

Demand Shifters: Move the curve  Tastes and preferences  Related goods  Substitutes  Complements  Income of buyers  Consumers (#)  Expectations about future prices P Q D1 D2 D3

Supply shifters: Move the curve  Market size  Expectations of future prices  Resource costs  Innovation/technolo gy  Taxes and subsidies  *complements in production P Q S3 S2S1

Peq, Qeq and Shifters P P eq 1 S1 D1 Q eq 1 Q

Peq, Qeq and Shifters P P eq 1 S1 D1 Q eq 1 Q D2 P eq 2 Q eq 2 DPQDPQ

Peq, Qeq and Shifters P P eq 1 S1 D1 Q eq 1 Q D2 P eq 2 Q eq 2 DPQDPQ

Peq, Qeq and Shifters P P eq 1 S1 D1 Q eq 1 Q S2 P eq 2 Q eq 2 SPQSPQ

Peq, Qeq and Shifters P P eq 1 S1 D1 Q eq 1 Q S2 P eq 2 Q eq 2 SPQSPQ

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