1. Costs of land 2. Income 3. Subsidies 4. Advertising 5. Changes in technology 6. A flood 7. Price of substitutes 8. Cost of workers 9. Fashion 10. Price.

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Presentation transcript:

1. Costs of land 2. Income 3. Subsidies 4. Advertising 5. Changes in technology 6. A flood 7. Price of substitutes 8. Cost of workers 9. Fashion 10. Price of compliments

1. Costs of land 2. Income 3. Subsidies 4. Advertising 5. Changes in technology 6. A flood 7. Price of substitutes 8. Cost of workers 9. Fashion 10. Price of compliments

1. Draw a demand curve (d) (2 points) 2. Show an increase (d1) in demand (2 points) 3. Show a decrease (d2) in demand (2 points)

1. Draw a demand curve (d) (2 points) 2. Show a increase (d1) in demand (2 points) 3. Show an decrease (d2) in demand (2 points) Q1,2 and 3

1. Draw a supply curve (s) (2 points) 2. Show an increase (s1) in supply (2 points) 3. Show a decrease (s2) in supply (2 points)

1. Draw a supply curve (s1) (2 points) 2. Show an increase (s2) in supply (2 points) 3. Show a decrease (s3) in supply (2 points) Q1,2 and 3

1. Demand of iPhone‘s if Samsung smartphone‘s price increases. 2. Demand for home brand products if income increases. 3. Demand for leggings if celebrities start wearing them. 4. Demand for milk if cows are in newspapers for having diseases 5. Demand for tea if the price of milk decreases.

1. Demand of iPhone‘s if Samsung smartsphone‘s price increases. Increase (shift right) 2. Demand for home brand products if income increases. Decrease (shift left) 3. Demand for leggings if celebrities start wearing them. Increase (shift right) 4. Demand for milk if cows are in newspapers for having diseases Decrease (shift left) 5. Demand for tea if the price of milk decreases. Increase (shift right)

1. Supply of cars if minimum wage increases. 2. Supply of stawberries if the weather has been great this summer. 3. Supply of leather shoes if cows have diseases. 4. Supply of tables if wood gets cheaper. 5. Supply of wheat if a subsidy is introduced.

1. Supply of cars if minimum wage increases. Decrease – shift left 2. Supply of stawberries if the weather has been great this summer. Increase – shift right 3. Supply of leather shoes if cows have diseases. Decrease – shift left 4. Supply of tables if wood gets cheaper. Increase – shift right 5. Supply of wheat if a subsidy is introduced. Increase – shift right