Assignment #4 - PRACTICE DEMAND QUESTIONS Directions:...

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PRACTICE DEMAND QUESTIONS Directions: Please answer in the following manner: A. What Happens to Demand or Supply or Quantity Demand or Quantity Supply Demand Increase Quantity Demand Increase Supply Decrease Quantity Supply Increase B. Reason Use Reasons from notes ex: Change in Number of Consumers C. What happens to Graph Demand or Supply Increase – Shift Right Demand or Supply Decrease – Shift Left Quantity Demand or Quantity Supply Increase – Move along the curve Right Quantity Demand or Supply Decrease – Move along the curve Left D. Draw Graph – Make sure to label everything You will have to use Paint, save as a jpeg and insert into your Word Document Answer sheet 1. What would happen to your demand for luxury items if you lost your job? A. Demand for the item would decrease. There would be no change in the quantity demand unless the price of the object changes. B . Change in Income - consumers buy less when they have less money.
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This note was uploaded on 10/01/2011 for the course BIOLOGY 1510 taught by Professor --- during the Spring '11 term at Georgia State.

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Assignment #4 - PRACTICE DEMAND QUESTIONS Directions:...

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