1
Q
Positive Statement
A
Factual
2
Q
Normative Statements
A
Emotional
3
Q
Demand Shifters
A
Income, Tastes, Expectations, Supplemental Goods
4
Q
Supply Shifters
A
Tech and Input Prices
5
Q
Normal Goods
A
Income - Up
Demand - Up
6
Q
Inferior Goods
A
Income - Up
Demand - Down
7
Q
Complementary Goods
A
Hotdogs Price - Up
Buns Demand - Down
8
Q
Substitute Goods
A
Coffee Price - Up
Tea Demand - Up
9
Q
Tariffs Affect?
A
Supply Curve left (makes a box)
