Demand and Supply Factors

More like this

GMOs

by Joanne Wan

Human Emotion

by Samuel Anderson-McCoy

Pizza Hut

by Ana Carolina Aguirre

Great Economists Concept Map

by Andrew Lee

Demand and Supply Factors

Demand

Population

Number of consumers will increase

More people will know of the yogurt ice cream store

Tastes and Preferences

Consumers will be more drawn to buy yogurt ice cream

Consumption of yogurt benefits one's health

Income

Normal good: Singaporeans will be able to afford the yogurt ice cream

Increase in demand

Prices of related goods

Substitutes: There are different stores in AMK selling ice-creams as well.

Supply

Subtopic