4_2 Shifts in Demand

People buy more long-stem roses the week of Valentine’s Day. What happened to demand?

• Increase

• Decrease

• Change in Quantity Demanded - Increase in Price, Decrease in Quantity

• Change in Quantity Demanded - Decrease in Price, Increase in Quantity

People buy more long-stem roses the week of Valentine’s Day. Which graph / diagram accurately displays this?

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When XYZ Telecom, a cell service provider, offered reduced rates on weekends, its volume of weekend calling increased sharply. Which graph / diagram accurately displays this?

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A sharp rise in the price of gasoline leads many consumers to reduce travel by car. What happened to demand for gasoline powered cars?

• Increase

• Decrease

• Change in Quantity Demanded - Increase in Price, Decrease in Quantity

• Change in Quantity Demanded - Decrease in Price, Increase in Quantity

A sharp rise in the price of gasoline leads many consumers to reduce travel by car. What happened to demand for gasoline powered cars? Which graph / diagram accurately displays this?

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Many consumers switch from gas guzzler cars and trucks to more fuel efficient cars such as hybrids or electric cars finding them more cost effective. What happened to demand for fuel efficient cars such as a Tesla?

• Increase

• Decrease

• Change in Quantity Demanded - Increase in Price, Decrease in Quantity

• Change in Quantity Demanded - Decrease in Price, Increase in Quantity

Many consumers to purchase fuel efficient cars (hybrids or electric cars). What happened to demand for Tesla electric cars? Which graph / diagram accurately displays this?

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A pandemic is sweeping the country. People are told that they are legally required to wear a masks. What happens to the demand for masks?

• Increase

• Decrease

• Change in Quantity Demanded - Increase in Price, Decrease in Quantity

• Change in Quantity Demanded - Decrease in Price, Increase in Quantity

A pandemic is sweeping the country. People are told that they are legally required to wear a masks. Which graph / diagram accurately displays this?

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The price of milk has risen from $2 per gallon to $20 per gallon. What will happen to the demand for milk?(complimentary good)

• Increase

• Decrease

• Change in Quantity Demanded - Increase in Price, Decrease in Quantity

• Change in Quantity Demanded - Decrease in Price, Increase in Quantity