Illustrate what factors shift your demand for goods

Reference no: EM1337042

Real-life shortage or surplus of a good

1. Give an example of a good you purchase or market at your workplace to show why demand curve slopes downwards and why supply curve slopes upwards?

2. What factors shift your demand for goods (note: price is not a demand shifter)? Give an example of how a demand determinant shifted your demand for a good.

3. Describe a real-life shortage or surplus of a good you have wanted to purchase or market at your workplace. How is this imbalance reconciled in the marketplace?

Reference no: EM1337042

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