supply and demand acronyms Flashcards
shifts + price elasticity (27 cards)
what is the acronym for shifts in demand
All Fashionable People Shop In Primark
what is the acronym for factors which influence PED
NASBIT
what is the acronym for shifts in supply
Tongue Will Never Confuse Pum
what is the acronym for factors which influence PES
See That ASS
what does the N in NASBIT stand for
Necessity, this influences PED
what does ‘addiction and habit’ influence
PED, NASBIT
what does the S in NASBIT stand for
substitutes, availability of substitutes. NASBIT is for PED
what does the B in NASBIT stand for
brand loyalty, PED
what does the I in NASBIT stand for
Income, proportion of income. this influences PED
what does ‘time period’ influence
PED, NASBIT
what do the 2 ‘S’s in TEASS stand for
spare capacity, stockpiles and perishability. PES
what does the T in TEASS stand for
time period, PES
what does the A in TEASS stand for
availability of FoP, PES
what does the E in TEASS stand for
state of economy, PES
what does technology influence
shifts in supply, Tongue Will Never Confuse Pum
what does the “W” in the shifts in supply acronym stand for
Weather, in the acronym Tongue Will Never Confuse Pum
what does ‘number of suppliers’ affect
shifts in supply, tongue will Never confuse pum
what does the “C” in tongue will never Confuse pum stand for
costs, affecting shifts in supply
what does the P in the shifts in supply acronym stand for
productivity, tongue will never confuse pum
what is the other name for things that affect a shift in demand or supply
the conditions of demand or the conditions of supply
what do the 2 ‘P’s in the conditions of demand acronym stand for
population and age structure, price of other goods
what does income affect
shifts in demand, all fashionable people shop In primark
what does the ‘A’ in All fashionable people shop in primark stand for
advertising
what does the ‘F’ in the shifts in demand acronym stand for.
hint: it’s also the T in timers.
fashion and trends, all Fashionable people shop in primark