1. Fill in the blanks:

a. A decrease in demand leads to a _____________________ in the demand curve to the

_____________________ and causes price to go _____________________ and quantity

to go _____________________.

b. A decrease in supply leads to _____________________ in the supply curve to the

_____________________ and causes price to go _____________________ and quantity

to go _____________________.

c. An increase in demand leads to a _____________________ in the demand curve to the

_____________________ and causes price to go _____________________ and quantity

to go _____________________.

d. An increase in supply leads to a _____________________ in the supply curve to the

_____________________ and causes price to go _____________________ and quantity

to go _____________________.

2. List the factors that shift the demand curve and the factors that shift the supply curve.