{"id":130,"date":"2020-03-24T04:51:24","date_gmt":"2020-03-24T04:51:24","guid":{"rendered":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/reading-summary-of-factors-that-change-demand\/"},"modified":"2023-05-22T19:20:45","modified_gmt":"2023-05-22T19:20:45","slug":"reading-summary-of-factors-that-change-demand","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/reading-summary-of-factors-that-change-demand\/","title":{"raw":"Reading: Summary of Factors That Change Demand","rendered":"Reading: Summary of Factors That Change Demand"},"content":{"raw":"<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1511\/2016\/05\/24190428\/9595911874_92697c0b0a_k.jpg\" rel=\"attachment wp-att-5623\"><img class=\"wp-image-5623 aligncenter\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/343\/2016\/07\/20205851\/9595911874_92697c0b0a_k-1024x577.jpg\" alt=\"Three paper cylinders. The top of each has been diagonally cut and shifted slightly to the left.\" width=\"500\" height=\"282\"><\/a>\n\nSix factors that can shift demand curves are summarized in Figure 1, below. The direction of the arrows indicates whether the demand curve shifts represent an increase in demand or a decrease in demand. Notice that a change in the price of the good or service itself is not listed among the factors that can shift a demand curve. A change in the price of a good or service causes a movement along a specific demand curve, and it typically leads to some change in the quantity demanded, but it does not shift the demand curve.\n\n[caption id=\"\" align=\"aligncenter\" width=\"751\"]<img class=\"\" src=\"https:\/\/textimgs.s3.amazonaws.com\/DE\/microecon\/u1t9-s44mgw6i#fixme#fixme#fixme#fixme#fixme\" alt=\"The graph on the left lists events that could lead to increased demand. These include taste shift to greater popularity, population likely to buy rises, income rises (for a normal good), price of substitution rises, price of complements falls, and future expectations encourage buying. The graph on the right lists events that could lead to decreased demand. These include a taste shift to lesser popularity, population likely to buy drops, income drops (for a normal good), the price of substitutes falls, the price of complements rises, future expectations discourage buying.\" width=\"751\" height=\"234\"><strong>Figure 1. Factors That Shift Demand Curves<\/strong> (a) A list of factors that can cause an increase in demand from D0 to D1. (b) The same factors, if their direction is reversed, can cause a decrease in demand from D0 to D1.[\/caption]","rendered":"<p><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1511\/2016\/05\/24190428\/9595911874_92697c0b0a_k.jpg\" rel=\"attachment wp-att-5623\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-5623 aligncenter\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/343\/2016\/07\/20205851\/9595911874_92697c0b0a_k-1024x577.jpg\" alt=\"Three paper cylinders. The top of each has been diagonally cut and shifted slightly to the left.\" width=\"500\" height=\"282\" \/><\/a><\/p>\n<p>Six factors that can shift demand curves are summarized in Figure 1, below. The direction of the arrows indicates whether the demand curve shifts represent an increase in demand or a decrease in demand. Notice that a change in the price of the good or service itself is not listed among the factors that can shift a demand curve. A change in the price of a good or service causes a movement along a specific demand curve, and it typically leads to some change in the quantity demanded, but it does not shift the demand curve.<\/p>\n<figure style=\"width: 751px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/textimgs.s3.amazonaws.com\/DE\/microecon\/u1t9-s44mgw6i#fixme#fixme#fixme#fixme#fixme\" alt=\"The graph on the left lists events that could lead to increased demand. These include taste shift to greater popularity, population likely to buy rises, income rises (for a normal good), price of substitution rises, price of complements falls, and future expectations encourage buying. The graph on the right lists events that could lead to decreased demand. These include a taste shift to lesser popularity, population likely to buy drops, income drops (for a normal good), the price of substitutes falls, the price of complements rises, future expectations discourage buying.\" width=\"751\" height=\"234\" \/><figcaption class=\"wp-caption-text\"><strong>Figure 1. Factors That Shift Demand Curves<\/strong> (a) A list of factors that can cause an increase in demand from D0 to D1. (b) The same factors, if their direction is reversed, can cause a decrease in demand from D0 to D1.<\/figcaption><\/figure>\n","protected":false},"author":32,"menu_order":9,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-130","chapter","type-chapter","status-publish","hentry"],"part":113,"_links":{"self":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/users\/32"}],"version-history":[{"count":1,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/130\/revisions"}],"predecessor-version":[{"id":131,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/130\/revisions\/131"}],"part":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/parts\/113"}],"metadata":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/130\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/media?parent=130"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapter-type?post=130"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/contributor?post=130"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/license?post=130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}