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5 principal factors that shift the demand curve
1. change in price of related goods 2. change in income 3. change in tastes 4. change in expectations 5. change in # of consumers
individual demand curve
shows relationship between quantity demanded and and price for an individual
movement along supply curve
change in quantity supplied of a good that is the result in change of a goods's price
5 factors for supply curve shifts
1. change in input prices 2. change in price of related good 3. change in technology 4. change in expectations 5. change in number of producers
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