Econ basics for noobs : Supply and Demand (Part II)

  1. What is supply
  2. The Law of supply
  3. The shifts in the graph of supply
  4. The factors that cause the shifts in the graph of supply
The Demand Curve
Different effects on the demand curve
  1. Taste/Preference: Suppose a study comes out which states that eating Balaji everyday is the root cause to developing cholesterol. People are surely going to be reluctant to buying Balaji even if the price didn’t change. Thus this is going to cause a shift (left shift in this case) in the graph of the demand.
The shift is to the left due to the decrease in demand
The shift is to the right due to an increase in the demand

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