Mnemonic Monday - Demand factors
Monday, October 24, 2011
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So as we all embark on teaching demand and supply I thought it would be a good idea to remind ourselves of the useful mnemonics for this topic.
This week we will look at the factors which cause the demand curve to shift.
I like to use the mnemonic PASIFIC
Population
Advertising
Substitutes (price of)
Incomes
Fashions and trends
Interest rates
Complements (price of)
Next week supply factors.
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