quantity demanded of golf clubs falls (because of the law of demand), demand for a complement good like golf

balls decreases, too. Similarly, a higher price for skis would shift the demand curve for a complement good like

ski resort trips to the left, while a lower price for a complement has the reverse effect.

Changes in Expectations about Future Prices or Other Factors that Affect Demand

While it is clear that the price of a good affects the quantity demanded, it is also true that expectations about

the future price (or expectations about tastes and preferences, income, and so on) can affect demand. For

example, if people hear that a hurricane is coming, they may rush to the store to buy flashlight batteries and

bottled water. If people learn that the price of a good like coffee is likely to rise in the future, they may head for
58 3 • Demand and Supply

the store to stock up on coffee now. We show these changes in demand as shifts in the curve. Therefore, a shift
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