#22Q Supply and Demand

Due to the special 100th year anniversary of Williamsburg High School, people will be attending Williamsburg Homecoming in record numbers. Market: dresses in Eastgate

• Demand Up

• Demand Down

• Supply Up

• Supply Down

Price of ground beef skyrockets. Market: Hamburger buns

• Demand Up

• Demand Down

• Supply Up

• Supply Down

High levels of mercury found in canned tuna. Market: canned tuna.

Hint: Mercury in food is undesirable (bad)

• Demand Up

• Demand Down

• Supply Up

• Supply Down

Price of BMW's drops. What will happen to the demand of another expensive car, Mercedes?

• Demand Up

• Demand Down

• Supply Up

• Supply Down

People return to Houston, one year after Hurricane Irma. What will happen to the demand of apartments?

• Demand Up

• Demand Down

• Supply Up

• Supply Down

Ford announces layoffs (a lot of people lose their jobs) in Detroit. Market: the new iPhone in Detroit

• Demand Up

• Demand Down

• Supply Up

• Supply Down

Drought hits peanut crop in Georgia. Market: peanut butter

• Demand Up

• Demand Down

• Supply Up

• Supply Down

New machinery smashes peanuts twice as fast. Market: peanut butter

• Demand Up

• Demand Down

• Supply Up

• Supply Down

The amount of goods or services available is called?

• supply
• demand
• producer
• consumer

In general, if the price of a good or service goes down, what happens to the demand for that good or service?

• demand goes up
• demand stays the same
• demand goes down
• none of the above