Mnemonic Monday – Factors that shift demand

One of the most important skills at GCSE Economics is to be able to identify factors which shift the demand and supply curves, especially in the OCR paper where an almost identical 12 mark question appears every year without fail. Here is a check-list of factors which will shift the demand curve ( and yes… you’ve guessed it - next week there will be a mnemonic on factors leading to a shift in the supply curve)

PASIFIC (I know what you’re thinking… that’s not how you spell Pacific and you would be right but it’s the way I was taught it by my Mum who is also an economics teacher and it’s worked so far both for her pupils and mine.)

Population
Advertising
Substitutes
Income (Disposable)
Fashion and Taste
Income tax
Complements