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Alexander_Biglin_-_Activity_-_Supply_and_Demand_Drill -...

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Supply and Demand DrillFor each of the following problems, state which curve would shift the supply curve or the demand curve. Then state whether the curve wouldshift to the right (an increase) or shift to the left (a decrease). Then state the reason for the shift.Use this to help!ProductEvent - You must think… would the event impact theconsumers or the producers of the goods in thenamed market?Would the eventaffect demand orsupply for theproduct?Would the curveshift to the right orleft?Why?Reason/ShifterEffecton Eq. PEffect onEq.QwheatA drought destroys much of the crop.SupplyLeft - DecreaseNumber of SellersincdecRedwoodlumberEnvironmentalists urge consumers to boycott redwoodproducts.cigarsA new study shows that smoking cigars results in lots ofwrinkles.butterThe price of margarine goes up.paperThe price of wood pulp rises.Hula hoopsBrad Pitt confides to People magazine that “he gets a bigkick out of his hula hoop.”yachts

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Term
Winter
Professor
Moret
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