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You will also be required to identify which determinant (of demand or supply) has changed, thus causing the shift. Rather than actually writing in the determinant, fill in the blank with the number that corresponds to the relevant determinant, based upon the following list. You may want to refer to the lecture notes entitled Determinants of Demand & Supply in the COURSE CONTENTS section. For questions 1 - 10, refer back to this list. Some you may want to use more than once, some you won't use at all. Copy and paste this list to an MS Word document and then print it out if you don't want to keep scrolling back and forth between this list and the question you're trying to answer. Determinants of Demand: 1. Change in buyer tastes 2. Change in number of buyers 3. Change in income 4. Change in the prices of related goods (on the demand side) 5. Change in consumer expectations Determinants of Supply: 6. Change in resource prices 7. Change in technology 8. Changes in taxes and subsidies 9. Change in prices of related goods (on the supply side) 10. Change in producer expectations 11. Change in the number of suppliers. For example, if a rightward shift in the supply curve for an item were caused by an increase in the number of producers of that item, you would indicate this be entering 11 into the relevant blank. If the demand curve shifted to the left because people didn't like that item anymore (like mimeograph machines), you'd enter 1 into the blank. In questions 1 - 10, you will be analyzing the copper market. Each of these 10 questions will deal with the supply and demand of copper. Remember, the consumers of copper are usually builders and construction firms. Only one curve shifts per problem. Ready? OK, so here's the first one - What would happen in the copper market if: Governments around the world increase business taxes on the mining of copper. Demand remain unaffected Supply: shift to the left Equilibrium price: increase Equilibrium quantity exchanged Decrease Which determinant changed? (enter a number, 1 through 11) 8 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers