How does change in expected future income affect the demand curve?

: If consumers expect a future

drop in income, demand will decrease (left shift). If consumers expect a future increase in income,
demand will increase (right shift).

15.How does change in expected future price affect the demand curve?: If consumers expect a future
drop in price, demand will decrease for today (left shift). If consumers expect a future increase in price,
demand will increase for today (right shift).

16.How does change in expected future price affect the supply curve?: If suppliers expect the future
price of a good to increase, their supply will decrease for today (left shift). If suppliers expect the future
price of a good to decrease, their supply will increase for today (right shift).

17.How does change in income affect the demand curve?: If the good is an inferior good, increased
income will decrease demand (left shift) and decreased income will increase demand (right shift).
If the good is a normal good, increased income will increase demand (right shift) and decreased income
will decrease demand (left shift).

18.How does change in input prices affect the supply curve?: Increased input price increases overall
production cost, making producers less willing to supply, and leading to a decrease in supply (left shift).
Decreased input price decreases overall production cost, making producers more willing to supply, and
leading to an increase in supply (right shift).

19.How does change in number of consumers affect the demand curve?: Increased number of
consumers increases demand (right shift). Decreased number of consumers decreases demand (left
shift).

20.How does change in number of producers affect the supply curve?: Increased number of producers
leads to a greater supply (right shift). Decreased number of producers leads to a lower supply (left shift).

21.How does change in production complement prices affect the supply curve?: Increased price of a
complement good/service will cause producers to increase their production of the main good (right shift).
Decreased price of a complement good/service will cause producers to decrease their production of the
main good (left shift).

22.How does change in production substitute prices affect the supply curve?: Increased price of
substitute good/service will cause producers to decrease their production of the main good (left shift).
Decreased price of a substitute good/service will cause producers to increase their production of the main
good (right shift).

23.How does change in taste affect demand curve?: If a new fad or belief is against the good/service,
demand will decrease (left shift). If a new fad or belief is in favor of the good/service, demand will increase
(right shift).

24.How does improvement in technology affect the supply curve?: Better technology enables producers
to make more of a good/service at a lower cost, leading to an increase in supply (right shift).

25.How does the price of a complement good affect the demand curve?: If the price of a complement
increases, demand decreases (left shift). If the price of a complement decreases, demand increases (right
shift)
26.How does the price of a substitute good affect the demand curve?: If the price of a substitute
increases, demand increases (right shift). If the price of a substitute decreases, demand decreases (left
shift)