March 14

Today we took a quiz on supply and demand.  see me for makeup

Combine both supply and demand curves on one graph and show the change in both based on each scenario
Questions: 
Graph, shift the curves properly, identify the reasons why each curve moved and identify what happened to the price and quantity. SUPPLY AND DEMAND SHIFTS

1. Seneca Apple Juice is forced to increase its price a tiny bit while Apple Tree is unaffected. Seneca apple machines have a major breakdown: Graph Seneca curves

2. An especially warm summer has resulted in a huge increase of ice cream being purchased. As a result, a few more ice cream trucks companies have been seen throughout the city streets. Graph for ice cream

3. Coffee prices drop. The price of paper (resource in coffee filters) has increased which caused the price of coffee filters to increase. Graph for coffee filters

4. All consumers are given a small $300.00 tax break. A new process allows three times as many diamonds to be mined per day. Graph diamond curve

5. War in Afghanistan kills many Afghan people. The United States tries to help Afghanistan by sending in many new types of machines that assist them in producing consumer goods. Graph for goods in Afghanistan.

6. People are just starting to think sport utility vehicles are unsafe and ugly. American motor companies are taxed an additional huge 10%. Graph for American Motor companies

7. The cost of producers’ raw materials has increased greatly while the taxes on big business have been reduced by a small 2%. Graph for big business

8. It has become a fad to own a dog. The dog food companies are becoming tired of the strict regulations regarding the ingredients in dog food and many are unable to stay in business. Graph for dog food.