i wouldn't forget those times we had together...

Tuesday, November 22, 2005

Due to the recent rainy season, the need for jackets and umbrellas will increase. Hence, the demand for these necessities will rise, resulting in a shift in the demand curve to the right. That means, at every price, there is an increase in quantity demanded for the goods. Thus it can be seen that the factor affecting market demand for umbrellas and jackets is due to a change in climate and weather. As these goods are necessities, they have low PED and YED. A change in the price of these goods will lead to a less than proportionate change in the demand for them.

dorothy
9:58 PM