Shifting Supply and Demand Curves

In this activity, students will work together in groups and give examples of things that can shift the Supply and Demand Curve for a product that they choose. They will choose a product such as “A sports car” and then give examples of how each determinant can shift the Demand or Supply Curve.

The Determinants of Demand are:
Change in Taste
Change in the Price of Related Goods
Change in Income of Buyers
Number of Buyers
Expectations of the Future Price

The Determinants of Supply are:
Resource Cost
Price of related goods in production
Taxes and Subsidies
Technology
Number of Sellers
Expectations of the Future Price