Determinant of Demand and Supply
Determinants of Demand
| Decrease in Demand | Increase in Demand |
|---|---|
| Income fall | Income rise |
| expected future surplus | expected future shortage |
| Price of substitutes fall | Price of substitutes rise |
Number of buyers fall
Number of buyers rise
Determinants of supply
| Decrease in Supply | Increase in Supply |
|---|---|
| The production price of substitutes rises | The production price of substitutes fall |
| Rise in number of sellers | Fall in number of sellers |
| Resource cost rise | Resource cost fall |
Technology harms productivity
Technology improves productivity