Demand and supply
Demand and supply
- What happens in the identified market to either demand or supply when the following events take place? (Please do not over think this! – only one side will be impacted initially)
| Market | Event | Demand or Supply Issue | Increase/Decrease or No Change | Identify the factor/reason that is responsible for any change |
| Corn | Buyers expect corn prices to rise next month | |||
| Ice Cream | The government decides to charge a $0.25 ice cream tax to producers of ice cream | |||
| Oil | New electrical engines are developed that decrease gas consumption by 40% (Gas is refined from oil) | |||
| Pears | New research shows that eating an apple a day reduces cancer. |
