Supply and Demand

•Consider the Week 1 scenario for Katrina’s Candies: •What are the key factors that affect the demand for Katrina’s Candies? •What are the key factors that affect the supply of Katrina’s Candies? •The graph below represents two (2) demand curves for Katrina's Candies. •Does the movement from point A to point B represent a "change in demand" or a "change in the quantity demanded"? What could have brought about this change? •Does the movement from point A to point C represent a "change in demand" or a "change in the quantity demanded"? What could have brought about this change? •Why is it important to be able to distinction a "change in demand" from a "change in the quantity demanded"?