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Supply and Demand Line Shift Practice - Warm Up

This document provides 15 practice questions about how supply and demand would be affected in different scenarios. The questions cover how changes in input prices, technology, taxes, incomes and other factors would impact supply and demand curves and the equilibrium price and quantity in various markets. Students are asked to determine if each scenario would impact supply or demand and how the supply and demand curves and price and quantity would change as a result.

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93 views3 pages

Supply and Demand Line Shift Practice - Warm Up

This document provides 15 practice questions about how supply and demand would be affected in different scenarios. The questions cover how changes in input prices, technology, taxes, incomes and other factors would impact supply and demand curves and the equilibrium price and quantity in various markets. Students are asked to determine if each scenario would impact supply or demand and how the supply and demand curves and price and quantity would change as a result.

Uploaded by

Smile
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Supply and Demand Line Shift Practice- WARM-UP

Directions: read the following situations and decide if supply or demand would be affected. Then pick the letter
that represents the graph that shows that change and which way either the supply or demand line would move.

_____1. The prices of wool


increases, what effect will
this have on a sweater
making company?
_____2. Great weather means apples
can grow faster.
_____3. Individual’s income taxes
are increased.
_____4. The price of hotdogs
increases, what will happen
to hamburgers in the grocery
store?
_____5. A new technological
advancement means that
tennis shoes can be made
using less labor.
_____6. If the price of peanut butter
increase what will happen to
jelly?
_____7. Suppliers are expecting
trends to change in the near
future.
_____8. The price of light bulbs triples what will happen to lamps?
_____9. There are twice as many shoe making companies as there were last year at this time.
_____10. The government increases taxes placed on businesses that pollute.
Directions: For questions 11-15 decide how the scenario will change price and quantity supplied.

11.If Jackie's income rises, what happens to her demand for airplane trips? If the income of most
consumers of air travel rises (and air travel is a normal good), what will happen to the market
equilibrium price P and quantity Q of this good?
Price will ___________________ and quantity will ___________________
12.If the taste for sneakers severely declines, what happens to their price and the quantity sold?
Price will ___________________ and quantity will ___________________
13.If the price of materials used to make sneakers rises sharply, what happens to the price and
the quantity sold of sneakers?
Price will ___________________ and quantity will ___________________
14.If the technology for making some communications device (say, cellular telephones) leaps
forward, what is most likely to happen to the price and the quantity sold?
Price will ___________________ and quantity will ___________________
15.Consider the supply and demand for coffee in London. Suppose the price of tea rises sharply.
If coffee is a substitute good for tea, what happens to the price and quantity of coffee?
Price will ___________________ and quantity will ___________________
Supply and Demand Line Shift Practice- WARM-UP
Directions: read the following situations and decide if supply or demand would be affected. Then pick the letter
that represents the graph that shows that change and which way either the supply or demand line would move.

_____1. The prices of wool


increases, what effect will this
have on a sweater making
company?
_____2. Great weather means apples
can grow faster.
_____3. Individual’s income taxes
are increased.
_____4. The price of hotdogs
increases, what will happen
to hamburgers in the grocery
store?
_____5. A new technological
advancement means that
tennis shoes can be made
using less labor.
_____6. If the price of peanut butter
increase what will happen to
jelly?
_____7. Suppliers are expecting
trends to change in the near
future.
_____8. The price of light bulbs triples what will happen to lamps?
_____9. There are twice as many shoe making companies as there were last year at this time.
_____10. The government increases taxes placed on businesses that pollute.
Directions: For questions 11-15 decide how the scenario will change price and quantity supplied.

11.If Jackie's income rises, what happens to her demand for airplane trips? If the income of most
consumers of air travel rises (and air travel is a normal good), what will happen to the market
equilibrium price P and quantity Q of this good?
Price will ___________________ and quantity will ___________________
12.If the taste for sneakers severely declines, what happens to their price and the quantity sold?
Price will ___________________ and quantity will ___________________
13.If the price of materials used to make sneakers rises sharply, what happens to the price and
the quantity sold of sneakers?
Price will ___________________ and quantity will ___________________
14.If the technology for making some communications device (say, cellular telephones) leaps
forward, what is most likely to happen to the price and the quantity sold?
Price will ___________________ and quantity will ___________________
15.Consider the supply and demand for coffee in London. Suppose the price of tea rises sharply.
If coffee is a substitute good for tea, what happens to the price and quantity of coffee?
Price will ___________________ and quantity will ___________________

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