How Market Demand Shifts in Economics

Miacademy & MiaPrep Learning Channel

This educational video provides a comprehensive overview of market demand in economics, distinguishing between changes in "quantity demanded" caused by price fluctuations and changes in "demand" caused by non-price factors. The narrator uses relatable examples like fidget spinners, pizza, and video game consoles to explain complex economic concepts, making them accessible to students. The lesson visualizes these concepts through demand curves, demonstrating the difference between movement along a curve versus shifting the entire curve to the left or right. The video breaks down the five key "shifters of demand" (non-price factors): Income, Consumer Preference, Demographic Characteristics, Expectations of Future Prices, and Price of Related Goods. Each factor is defined and illustrated with specific scenarios, such as how a holiday bonus changes buying power or how the Baby Boom impacted the toy industry. The video also covers the Law of Demand, noting the inverse relationship between price and demand. Ideally suited for high school economics or social studies curriculums, this resource helps teachers explain the mechanics of market economies. It offers clear definitions, visual graphing examples, and pause points for student reflection. The content bridges the gap between theoretical graphs and real-world consumer behavior, allowing students to analyze how their own purchasing decisions are influenced by various market forces.