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2.1b Non-Price Determinants of Demand (Shifts to the Demand Curve)
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Mr. Racine introduces non-price determinants of demand and explains how they can increase or decrease demand, thereby shifting the demand curve outward or inward.
0:00 Topic Introduction
1:17 Quick Review of Demand
3:02 Increases and Decreases in Demand
7:45 Non-Price Determinants of Demand (Shifters of Demand) Introduced
8:03 Changes to Consumer Preference
8:31 Changes to Consumer Income
9:58 Changes to Price of Related Goods (Substitute & Complement Goods)
12:16 Expectations of Future Prices
13:11 Consumer Demographics
13:41 Recap of Today's Lesson
Mr. Racine introduces non-price determinants of demand and explains how they can increase or decrease demand, thereby shifting the demand curve outward or inward.
0:00 Topic Introduction
1:17 Quick Review of Demand
3:02 Increases and Decreases in Demand
7:45 Non-Price Determinants of Demand (Shifters of Demand) Introduced
8:03 Changes to Consumer Preference
8:31 Changes to Consumer Income
9:58 Changes to Price of Related Goods (Substitute & Complement Goods)
12:16 Expectations of Future Prices
13:11 Consumer Demographics
13:41 Recap of Today's Lesson
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