Question

-Decide if there is a change in demand or just a change in the quantity demanded (movement along the demand curve). Graph the items in the ( )
-If there is a shift in demand state reason for the shift
-Graph each situation and use arrows to illustrate whether demand curve shifts right or left and whether the quantity demanded increases or decreases.

1.The price of gasoline falls (new automobiles)

2.The consumer income rises (new automobiles)

3.the price of pork falls. (Pork and chicken)

4. Household water rates rise (“desert plants”: drought tolerant for landscaping)

5. Pick up stix prices to rise next week (pick up stix food)

6.unemployment rate decreases (Disneyland passes)

7. Tariffs added on imported wine (imported & American wine)

8. Lindsey Lohan is seen wearing a rebel yell sweatshirt (rebel yell shirt)

9. Cream cheese experiences an increase in price (bagels)

10.new reports state Starbucks teas are good for your heart (Starbucks tea)

Answer 1

As the price of gas goes up, The buying and operating a car is said to be very expensive and as such, the demand for cars to decrease.

What is Demand?

The definition of Demand in terms of economics is simply known as the zeal or willingness of a consumers and their ability to buy or consume a given goods/services.

The determinants of demand are:

• Income
• Price of related goods
• Tastes and preferences

Learn more about demands from

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