This assignment is based on Chapter 5, Section 3. Please refer back to the text, as well as our last assignment on the demand shifters, if you are stuck or confused.
Instructions:
Come up with an example for each of the demand shifters:
1. Changes in income
2. Changes in the number of consumers
3. Changes in consumer tastes and preferences
4. Changes in consumer expectations
5. Changes in the price of substitute goods
6. Changes in the price of complementary goods
For each example:
• Choose a good or a service
• Write a headline or tell me a story (like our last assignment)
• Then tell me how that new information will likely affect the demand curve for that good or
service. Will the demand curve shift to the left (less demand) or to the right (more demand);