Can you please exlain to me if I'm wrong not just correct me.
ps. Ceteris paribusor
the following markets, show whether change causes a shift in supply curve, a shift in demand curve, a movement along the supply curve, and/or a movement along the demand curve.
a.housing market: Consumers’ income fall. *shift in demand curve
b.tea market: the price of sugar goes down.*shift in demand curve
c. coffee market: there is a freeze in Brazil that severely damages the coffee crop.*shift in supply curve
d. fast food market: the number of fast-food restaurants in an area decreases.*shift in demand curve
e.peanut market in the U.S. Southeast: A drought lowers supply.* shift in supply curve
2 answers
Looks right to me!
Look again at d. Why would that shift demand? If there are fewer restaurants, then fewer burgers supplied. People still want their burgers
2 answers