DemandChangeNumberConsumers

by jwietl
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DemandChangeNumberConsumers

I’m ______________________ speaking to you from Joliet Central High School, room 377 for the Institute for the Teaching of Economics in All Subject Areas. You are listening to:The Institute for the Teaching of Economics in All Subject AreasVolume Two, Issue SixDeterminants of Demand/Change in the Number of Consumers in the MarketAmerica is prepared to recognize the anniversary of the founding of the first permanent English settlement in North America. Known as Jamestown, this settlement began in 1607, 400 years ago, when the ships Discovery, Susan Constant, and Godspeed reached shore about 60 miles from the mouth of the James River in the Chesapeake Bay region. There were about one hundred colonists taking part in this chapter of American history. Could those brave souls have been able to even begin to speculate on what the population of the United States of America would become? Now, four centuries later, the population of our nation has swelled to over 300 million. According to economic theory, an increase in the number of consumers in the market will cause demand to increase. This will cause the demand curve to shift up and to the right resulting in an increase in price and an increase in quantity demanded.


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