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#Worksheet-Graphing The Demand and Supply Change

The document is a worksheet focused on analyzing the effects of various economic changes on the supply and demand of cereal. It includes scenarios that require students to graph shifts in supply and demand, label equilibrium points, and predict changes in price and quantity. Key factors influencing these changes are outlined, including income, production costs, and consumer preferences.

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Abhishek
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27 views3 pages

#Worksheet-Graphing The Demand and Supply Change

The document is a worksheet focused on analyzing the effects of various economic changes on the supply and demand of cereal. It includes scenarios that require students to graph shifts in supply and demand, label equilibrium points, and predict changes in price and quantity. Key factors influencing these changes are outlined, including income, production costs, and consumer preferences.

Uploaded by

Abhishek
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Name: _______________ Worksheet-Graphs of Changing Supply and Demand

Show the shift as graphs and use economic analysis to determine what happens to the price and quantity of cereal in
each scenario. Below is a review of the main factors that influence supply and demand:

Demand – Price of substitutes, Price of complements, Income, Tastes/Preferences, Number of Buyers, Expectations

Supply – Costs of Production, Technology, Number of Sellers, Weather, Tax/Subsidies, Substitutes in Production,
Complements in Production (Joint Supply), Expectations

# Change Graph Economic Analysis


1

1. Draw and Label Equilibrium:


2. The Change:
The workers who produce Supply or Demand
cereal go on strike. Increase or Decrease
Shifter
3. After: Price _____ Quantity_____

2 1. Draw and Label Equilibrium:


The economy goes into a 2. The Change:
recession causing Supply or Demand
incomes to decrease
Increase or Decrease
(Assume cereal is a
normal good). Shifter
3. After: Price _____ Quantity_____
3 1. Draw and Label Equilibrium:
The price of milk, a 2. The Change:
complement to cereal, Supply or Demand
decreases (Analyze Increase or Decrease
cereal). Shifter
3. After: Price _____ Quantity_____
4. 1. Draw and Label Equilibrium:
The price of wheat and 2. The Change:
corn, key resources in the Supply or Demand
production of cereal, Increase or Decrease
decreases. Shifter
3. After: Price _____ Quantity_____
5. 1. Draw and Label Equilibrium:
2. The Change:
Cereal producers increase Supply or Demand
the price of cereal. Increase or Decrease
Shifter
3. After: Price _____ Quantity_____
6. 1. Draw and Label Equilibrium:
2. The Change:
Supply or Demand
A reputable private Increase or Decrease
research institute Shifter
announces that children
who eat cereal improve
their grades in school.
3. After: Price _____ Quantity_____

7.
1. Draw and Label Equilibrium:
2. The Change:
The government places a Supply or Demand
per-unit tax on cereal
Increase or Decrease
manufacturers.
Shifter
3. After: Price _____ Quantity_____
8. 1. Draw and Label Equilibrium:
2. The Change:
An improvement in Supply or Demand
equipment and
Increase or Decrease
technology for cereal
firms. Shifter
3. After: Price _____ Quantity_____
9. 1. Draw and Label Equilibrium:
The supply of eggs, a 2. The Change:
close substitute of cereal, Supply or Demand
increases. (Analyze Increase or Decrease
cereal) Shifter
3. After: Price _____ Quantity_____
10 1. Draw and Label Equilibrium:
2. The Change:
An increase in population Supply or Demand
leading to an increase in
Increase or Decrease
cereal customers
Shifter
3. After: Price _____ Quantity_____
11 1. Draw and Label Equilibrium:
In order to promote
American production, the 2. The Change:
government subsidizes Supply or Demand
cereal producers. Increase or Decrease
(Analyze only American Shifter
firms) 3. After: Price _____ Quantity_____
12

1. Draw and Label Equilibrium:


2. The Change:
New firms begin to start Supply or Demand
making cereal (Analyze
Increase or Decrease
the entire industry).
Shifter
3. After: Price _____ Quantity_____

13
The popularity of the 1. Draw and Label Equilibrium:
cereal increases at the 2. The Change:
same time new
Demand- Up or Down Shifter-
technology lowers
Supply- Up or Down Shifter-
production costs.
(Double Shift) 3. After: Price _____ Quantity_____

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