Economic History

Beer: An Economic Indicator

Beer and pretzels.
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Comments (1)
  1. Anonymous says:

    The demand curve for beer would shift to the left if a substitute product, such as wine, became less expensive. For example, if the price of grapes decreased, this would cause beer’s demand curve to shift to the left. Conversely, if the price of wine/grapes went up, beer’s demand curve would shift to the right — a reverse example of how substitutes act as demand determinants.

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