Demand Graphs Answers

1. Demand on the whole decreases – Expectations
2. Quantity demanded decreases – Law of Demand
3. Demand on the whole increases- Complements
4.  Demand on the whole increases – Event
5. Quantity demanded increases – Law of Demand
6. Demand on the whole increases – Substitutes
7. Demand on the whole decreases – Negative Population Growth
8. Quantity demanded increases – Law of Demand because cheaper rubber = cheaper tire
9. Demand on the whole decreases – Consumer Preferences
10. Demand on the whole increases – Positive Income

We also went over some Demand determinant examples in class! Thursday and Friday:

1.Brainstorm and/or look online for 2-3 real life examples for each of the determinants of supply at work in the ‘real world’. Include the timeline, the good involved, what occurred and how supply of the good reacted

Note: Some examples may apply to more than one determinant and that is okay.

Excel Guide for you to download!

For those of you that want to go on vacation overseas….

http://ca.reuters.com/article/businessNews/idCAKCN0VC1Q8?pageNumber=2&virtualBrandChannel=0

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