1. Can you describe how Toyota responds to changes in market fluctuations, and plot the supply and demand curves indicating managerial economic principles (i.e. price ceilings/floors, shortage/surplus, etc.) a) Has there been an increase or decrease in demand of products/services? What factors could shift the demand curve? (i.e. changes in preferences, changes in income, changes in the price of substitutes or complements, or changes in the number of consumers in the market) 
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3. b) Draw a demand graph to explain this change. Be sure to label your graph and clearly indicate any movement or curve shifts. 
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5. c) Has there been an increase or decrease in supply of products/services? What factors could shift the supply curve? (e.g. changes in costs of materials, wages, or other inputs; changes in technology; or changes in the number of firms in the market) 
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7. d) Draw a supply graph to explain this change. Be sure to label your graph and clearly indicate if there is movement or shifts in supply curve.

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Toyotas Response to Market Fluctuations Toyota is known for its adherence to the Toyota Production System TPS which emphasizes lean manufacturing and ... View the full answer