Name:_____________________________________________ Per:________ Date:____________________

Changes in Market Equilibrium

Product Headline/Event How are the following affected? Graph

1.

Vacation trips

America goes back into a recession. Millions are unemployed

ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant%

&.

-asoline

'ngineers "a.e in.ented a process !or re!ining crude oil into gasoline t"at doubles t"e production o! gasoline per barrel o! crude oil. /t becomes kno0n t"at an electronics store is going to raise t"e price o! all t"eir .ideo games ) mont"s !rom no0.

ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant%

).

Video -ames

ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant% ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant% ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant%

+.

Apartments !or $ent

1"e price !or Ne0 2omes skyrockets3 "ig"est in t"e last se.en years

4.

5oy 6eans

ongress Appro.es a 2uge 5ubsidy !or 5oy 6ean 7armers to /ncrease Production on 7arms

Name:_____________________________________________ Per:________ Date:____________________

Product Headline/Event How are the following affected? Graph

8.

Nike 5"oes

$esearc" s"o0s t"at Nike is e9ploiting c"ild 0orkers in ot"er countries: consumers are outraged 0it" t"e company

ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant% ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant% ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant% ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant% ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant% ircle one !or eac": 1. A!!ects: Supply #$ Demand% a. Decreases #$ Increases% b. Left #$ Right% &. '(uilibrium Price: Decrease #$ Increase% ). '(uilibrium *uantity: Decrease #$ Increase% +. $eason,Determinant%

;.

Airline 1ickets

Airplane pilots get a &<= 0age increase

>.

-uitars

A reputable pri.ate researc" institute announces t"at c"ildren 0"o play guitars also impro.e t"eir grades in sc"ool.

?.

1ele.isions

1"e Price o! cable ser.ice decreases by 4<=

1<. @umba lasses

2undreds o! @umba instructors are ne0ly certi!ied to teac" @umba classes

11. 5ugar

2urricane 5erna "its sugar producing regions in t"e aribbean and causes massi.e destruction

Name:_____________________________________________ Per:________ Date:____________________