Download The following determinants cause shifts in the entire demand curve

The following determinants cause shifts in The following determinants cause shifts
the entire demand curve:
in the entire supply curve:
*change in consumer tastes
*change in the number of buyers
*change in consumer incomes
*change in the prices of complementary
and substitute goods
*change in consumer expectations
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change in input prices
change in technology
change in taxes and subsidies
change in the prices of other goods
change in producer expectations
change in the number of suppliers
Any factor that increases the cost of
production decreases supply.
• Any factor that decreases the cost of
production increases supply.
Assignment: With a partner, come up with a fictional situation for a real product
of your choice for each of these situations (feel free to make them funny).
You need to, explain how the statement relates to the determinant, and you will
need to graph it showing the change in equilibrium price/Quantity