Supply and Demand diagrams

Supply and demand diagrams help a business work out the best price to charge to benefit the customer and the business.
Supply looks at working out price from a business point of view.
Demand looks at price from a customers point of view.

Supply goes up- it's sky high
Demand goes down- it's down low.

Factors causing a shift in demand:
PASIFIC
Population
Advertising
Substitute products
Income
Fashion/ trends
Interest rates
Complementary products



Factors causing a shift in supply:
PINTSWC
Productivity
Indirect taxes
Number of competitors
Technology
Subsidies
Weather
Cost of production