Of course, two general changes in demand are possible, increase or decrease. However, there are many factors that can bring about these changes. The table below is a quick review of some possible causes of a change in demand.
Demand Increase | Demand Decrease |
Income Increase-Normal Good | Income Decrease-Normal Good |
Income Decrease-Inferior Good | Income Increase-Inferior Good |
Price Increase for Substitute | Price Decrease for Substitute |
Price Decrease for Complement | Price Increase for Complement |
Expect Future Price Increase | Expect Future Price Decrease |
Becomes More Fashionable | Becomes Less Fashionable |