factors shifting demand curve factors

Question

Factors Shifting Demand Curve:

 

Factors Changing Demand	Effect on Demand	Direction of Shift in Demand Curve	Effect on Equilibrium Price	Effect on Equilibrium Quantity
Increase in income (normal good)	Increase	Rightward	Increase	Increase
Decrease in income(normal good)	Decrease	Leftward	Decrease	Decrease
Increase in income (inferior good)	Decrease	Rightward	Decrease	Decrease
Decrease in income(inferior good)	Increase	Rightward	Increase	Increase
Increase in price of Substitute	Increase	Rightward	Increase	Increase
Decrease in price of substitute	Decrease	Rightward	Decrease	Decrease
Increase in price of complement	Decrease	Leftward	Decrease	Decrease
Decrease in price of complement	Increase	Rightward	Increase	Increase
Increase in taste and preference for good	Increase	Rightward	Increase	Increase
Decrease in taste and preference for good	Decrease	Leftward	Decrease	Decrease
Increase in number of consumers	Increase	Rightward	Increase	Increase
Decrease in number of consumers	Decrease	Leftward	Decrease	Decrease

 

Market demand curve  is  the  graphic representation of  the  market demand which shows the quantities of the commodity to which the consumers are willing able to purchase during the period of time at various alternative prices/costs, while holding constant everything else which effects the demand. The market demand curve for the commodity is negatively sloped, indicating that more of the commodity is purchased at the lower price.