directions: on each of the demand/supply graphs provided, move the demand or supply curve to...
TRANSCRIPT
DIRECTIONS:ON EACH OF THE DEMAND/SUPPLY GRAPHS PROVIDED, MOVE THE DEMAND OR SUPPLY
CURVE TO INDICATE THE INFLUENCE OF THESE STATEMENTS ON THE MARKET.
INDICATE THE EFFECT ON PRICE AND QUANTITY.
Supply and Demand
• The Ipad originated in 2010 and has consistently been the leader in the market for tablets.•This PPT will be based on the market for Ipads.
The Market for the IPad
•Find 3 products, such as the ones below, that would be considered complements to the Ipad. Find and paste pictures on the next 3 slides and type a description of how these products are complementary to the IPad.
Part 1: Complementary Products
Complementary Product 1
Type description here
Complementary Product 2
Type description here
Complementary Product 3
Type description here
•Find 3 products that would be considered substitutes to the Ipad. Paste their pictures on the next 3 slides and type a description of how these products are substitutes to the IPad.
Part 2: Substitute Products
Substitute Product 1
Type description here
Substitute Product 2
Type description here
Substitute Product 3
Type description here
The Market For Oil
Oil has become the lifeline for modern economies, providing products such as gasoline and plastics. For each of the following slides indicate the affect of the scenario on the supply and demand for oil products.
There is an increase in the popularity of gas guzzling automobiles would affect the market for oil (gas is a derivative of oil).
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
The Market for Oil
D
Quantity of Oil
Price
Pe
D
S
Pe
Qe
Place Picture Here
Qe
Imagine there is a global recession, which caused people to travel less, will would affect the market for oil (used to create gasoline).
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
The Market for Oil
D
Quantity of Oil
Price
Pe
D
S
Pe
Qe
Place Picture Here
Qe
Suppose a war breaks out in the Middle East, which causes oil producing countries to cut back on their production of oil, would affect the market.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
The Market for Oil
D
Quantity of Oil
Price
Pe
D
S
Pe
Qe
Place Picture Here
Qe
S
Show how U.S. congressional action that allows oil-drilling operations in previously untapped Alaskan preserves, would affect the market.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
The Market for Oil
D
Quantity of Oil
Price
Pe
D
S
Pe
Qe
Place Picture Here
Qe
S
Hybrid cars (which run on less gasoline) increase in their popularity and people stop purchasing gas guzzling automobiles.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
The Market for Oil
D
Quantity of Oil
Price
Pe
D
S
Pe
Qe
Place Picture Here
Qe
S
Emergingg markets, such as China, India, etc. open their borders to trade. They have more money to spend and begin buying cars from around the world..
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
The Market for Oil
D
Quantity of Oil
Price
Pe
D
S
Pe
Qe
Place Picture Here
Qe
S
Dieting A new diet has become popular. This diet calls for lots of meat and
vegetables, with little or no breads and fruits. Due to this diet, how would each of the following slides be affected?
Show how the new diet would affect the market demand for meat. Move curve and arrow in the direction of the shift. Indicate the
effect of price on and quantity.
Dieting
D
Quantity
Price
Pe
D
S
Pe
Qe
Place Picture Here
S
Qe
Show how the new diet would affect the market demand for bread. Move curve and arrow in the direction of the shift. Indicate the
effect of price on and quantity.
Dieting
D
Quantity
Price
Pe
D
S
Pe
Qe
Place Picture Here
S
Qe
Show how the new diet would affect the market demand for fruits. Move curve and arrow in the direction of the shift. Indicate the
effect of price on and quantity.
Dieting
D
Quantity
Price
Pe
D
S
Pe
Qe
Place Picture Here
S
Qe
Show how the new diet would affect the market demand for vegetables.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Dieting
D
Quantity
Price
Pe
D
S
Pe
Qe
Place Picture Here
S
Qe
Price Quantity Demanded Quantity Supplied
8
7
6
5
4.10
3
Supply and Demand InteractiveGo to: https://americanheritage.byu.edu/Pages/GamesandActivities/Supply-and-Demand-Interactive-Chart.aspx•What is the product being sold? _________________________•Create a supply and demand schedule for each of the following price points:•List the following:
1.Market clearing price (equilibrium price) _________2.Quantity equilibrium _________3.Description of equilibrium price (found at top of page)_______________________4.What is the surplus at $ 8 __________5.What is the surplus at $ 6 __________6.Description of surplus _________________________________________________7.What is the shortage at $ 3 _________8.What is the shortage at $ 4 _________9.Description of shortage ________________________________________________
Go to: http://www.reffonomics.com/TRB/chapter4/sd12.swfShift the curve on the website above in order to fill in the blanks for each of the following:Scenario Curve
Shifted (Supply or Demand)
Direction (Right or Left)
Affect on Price (Increase or Decrease)
Quantity (Increase or Decrease)
Assume that the economy of the country of Alpha is experiencing increasing unemployment. Steak is considered a normal good in Alpha.
Assume that the economy of the country of Alpha is experiencing increasing unemployment. Hamburger is considered an inferior good in Alpha.
The country of Alpha experiences an increase in immigration that leads to an additional one million consumers. What will be the affect on this immigration on Grog the popular drink of Alpha.
A plague has a devastating impact on the population of Alpha. Illustrate using a supply and demand graph how this will impact the market for chicken.
Coffee and cream are complementary goods. An unexpected period of bad weather adversely affects the coffee bean crop. Use a supply and demand graph to illustrate the affect of this bad weather on the price and quantity of coffee.
Coffee and cream are complementary goods. An unexpected period of bad weather adversely affects the coffee bean crop. Use a supply and demand graph to illustrate the affect of this bad weather on the price and quantity of cream.
A major news source reports an outbreak of salmonella affects the peanut butter snacks industry. Use a supply and demand graph to illustrate the immediate impact on price and quantity of this news