List the Factors That Change Demand and Shift the Demand

question 10

Essay

List the factors that change demand and shift the demand curve.Tell what happens to demand and the demand curve when there is an increase in the factor.

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Definitions:

Pluralistic Ignorance

A psychological phenomenon in which individuals mistakenly believe that their own attitudes and beliefs are different from those of the majority, often leading to conformity.

Social Psychologists

Experts who study how individuals' thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

Better-informed Opinion

An opinion based on comprehensive, accurate information and understanding.

Inconsistency

The state of being irregular or not remaining the same over time.