Something Interesting - Why are we studying this? |
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Read the first few paragraphs of Hybrid Car Prices Increasing Due To High Gas Prices.In lesson 3a you learned how the non-price determinants of demand (Pe, Pog, I, N, T) affect the demand curve. In lesson 3b you learned how the non-price determinants of supply (Pe, Pog, Pres, Tech, Tax, Nprod) affect the supply curve.After studying this lesson you will be able to use these determinants and graphs to explain why prices change. For example you will understand why: "It's becoming almost an annual tradition: As fuel prices rise in the spring, so do the prices of hybrid cars. " |
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