Supply and Demand Together: One-sided Shifts

What happens to our equilibrium when we start shifting curves?

Concept: Demand Shifts

7m

Concept: Supply Shifts

4m

Problem: If the economy booms and incomes rise, what happens in the markets for inferior goods?

3m

Problem: A change in which of the following will NOT shift the demand curve for ice cream?

4m

Problem: A decrease in _________ will cause a movement along a given supply curve, which is called a change in __________.

4m

Problem: Gum and mints are substitutes. If the price of gum increases, what happens in the market for mints?

2m

Problem: Which of the following situations would lead to an increase in the equilibrium price of carrots and a decrease in the equilibrium quantity of carrots sold?

6m

Problem: The discovery of a new fertilizer will shift the ___________ curve for carrots, leading to a ___________ equilibrium price.

3m