Here are 4 items- beer, chocolate, ice cream, flowers I want you to pick 2 of...

Transcribed Image Text:

Here are 4 items- beer, chocolate, ice cream, flowers I want you to pick 2 of these items, and give me 1 reasons why demand curve would shift for each for the product you pick. I want you also to pick your 2 items and give 1 reasons why the supply curve would shift. So there should be 4 answers! Please note that the reasons could be straight from headlines, or just simply made up.But make sure you refer to your book or notes for what shifts the supply or demand curve The example in your notes about people buying nutella on sale is not a shift! QUESTION TWO What does a sale on shirts have to do with the law of demand (as applied to shirts)? (hint: think of the nutella example) QUESTION THREE Describe how each of the following will affect the supply of personal computers: An increase in the number of sellers of computers; A tax placed on production of computers; . A subsidy placed on the production of computers. Here are 4 items- beer, chocolate, ice cream, flowers I want you to pick 2 of these items, and give me 1 reasons why demand curve would shift for each for the product you pick. I want you also to pick your 2 items and give 1 reasons why the supply curve would shift. So there should be 4 answers! Please note that the reasons could be straight from headlines, or just simply made up.But make sure you refer to your book or notes for what shifts the supply or demand curve The example in your notes about people buying nutella on sale is not a shift! QUESTION TWO What does a sale on shirts have to do with the law of demand (as applied to shirts)? (hint: think of the nutella example) QUESTION THREE Describe how each of the following will affect the supply of personal computers: An increase in the number of sellers of computers; A tax placed on production of computers; . A subsidy placed on the production of computers.

Answer rating: 100% (QA)

The detailed ... View the full answer