Factors of productionOpportunity cost
Production possibility curves
Economic systems
The market economic system
Government intervention: some problems
How markets work


A fall in demand
The market demand curve shifts inwards
Possible causes are:
a fall in disposable incomes after tax
a fall in the price of substitutes
a rise in the price of a complement
tastes and fashion favour other products
a reduction in advertising
a fall in the population
other factors, e.g. hot weather reduces the demand for winder coats