Leftward shift: decrease in demand

Rightward shift: increase in demand

Income 收入: normal and inferior goods

↑ Income → ↑ Demand for normal good

↑ Income → ↓ Demand for inferior goods

eg. Taxi & Bus

Wealth 積蓄

↑ Income → ↑ Demand

eg. Stock market boom → share-holders wealthy & Shark fins

Substitutes’ price

↓ Price of substitute → ↓ Demand for goods

↑ Price of substitute → ↑ Demand for goods

Eg. Pepsi & Coca-Cola

Complements’ price

↑ Price of complement → ↓ Demand for goods

↓ Price of complement → ↑ Demand for goods

Eg. Car & Gasoline

Fashion and taste

• changes in consumer tastes and fashion over a period of time

Advertising

• influence demand for their products through production