normal good

income => demand 1. Real Income

income => demand other things EQUAL

inferior good LAW OF DEMAND
goods used together 2. Prices Price => quantity demanded
price of 1 good Complements of Related
Goods
=> demand for the other DEMAND CURVE
SHIFT IN
goods equally able to DEMAND
satisfy a demand Substitutes downward-sloping line
price of 1 good relationship between price
3. Tastes
=> demand for the other and quantity demanded
4. Expectations DEMAND
Inverse/ Indirect relationship
5. Number of Buyers

SHIFT Sum of all individual demands

CHANGE IN
Caused by NON-PRICE DEMAND
MARKET DEMAND the summation of all
factors the individual demand curves
Market demand curve
CHANGE IN
MOVEMENT QUANTITY CETERIS PARIBUS
DEMANDED
Caused by a change in PRICE

relevant variables : UNCHANGED

the one being studied: CHANGED