expectations (Baye, 2009, p. 42). Demand shifters include basically any factor that impacts the willingness or ability of consumers to buy a particular good or service. For example, the recent tomato scare has made people fearful and less willing to purchase tomatoes and has greatly decreased demand for the product.
Changes in the price of a good or service lead to a change in the quantity demanded of that good or service. Income impact supply and demand, since chang
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