Shifts in Demand ECON 4/4

What caused this to happen?

• Decrease in income
• Increase in Income
• Increase in price of substitute
• Decrease in price of complement

What caused this to happen?

• Price expected to rise next month
• Price expected to fall next month
• Increase in number of buyers
• Increase in income of buyers

What caused this to happen?

• Increase in consumer interest
• Increase in Income
• Increase in price of complement
• Decrease in price of complement

What caused this to happen to the demand for gummy bears?

• Price of gummy worms increases
• New T.V. ad illustrates 50% of cavities are bear related
• Minimum wage is increased 7%
• Gummy bears become the official candy of netflix

What caused this to happen?

• Income increased
• Income decreased
• Price of substitute decreased
• Price of complement increased

THE MARKET FOR WHEAT: The number of consumers increases in the market.

• Supply increases

• Supply decreases

• Demand increases

• Demand decreases

If the price of printers goes down, what happens in the market for ink cartridges?

• Supply increases.

• Supply decreases.

• Demand increases.

• Demand decreases

Generally speaking, the lower the price, the greater the quantity demand.

• True

• False

Tags

CCSS.8.EE.B.5

For the law of demand, as price rises, what happens to quantity demanded?

• it goes up

• it goes down

• it stays the same

• it is not effected

What are Substitute Goods?

• Items that people tend to buy more of when their incomes increase. This is true of most goods and services.

• Items that people purchase more of when their incomes decrease. These items tend to be low-cost options for saving money.

• Items that may replace each other when used or consumed.

• Items that are almost always consumed or used together.