e Page 80 3.2. What determines demand? For a Honda Accord, some factors shift de
ID: 1140030 • Letter: E
Question
e Page 80 3.2. What determines demand? For a Honda Accord, some factors shift demand left and others shift it right, as shown. Classify each factor by how it shifts the current demand curve to a new position. Factors That Shift Demand to the Left (Decrease Demand) Factors That Shift Demand to the Right (Increase Demand) Price Price Quantity Quantity free brake inspections Consumers' income increases by 10%. 296 rebate on a Toyota Camry, a substitute shifts left shifts right good big sale coming in three months
Explanation / Answer
Answer : The shifts in the demand curve such as :
Factors that shift demand curve to rightward Factors that shift the demand curve leftward- When consumer income increases by 10% than people demanded more of the Product ( Honda Accord)
- Free brake inspection s an benefit provided by the Honda Accord which increases the demand.
- 2% rebate on a Toyota company , a substitute good. A decrease in the demand as price of substitute good has been decreased.
- Big sales coming in three months reduced the demand for current scanerio. As people think of purchasing Honda Accord at sales time duration.
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