Demand and Supply Curves (Exercises)

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Presentation transcript:

Demand and Supply Curves (Exercises) Resource Economics : IGCSE and O level by Susan Grant

Activity 1 Use a demand and supply diagram to Illustrate the effect of the following events on the market for economics books in India: A successful advertising campaign run in the country by publishers of economics books. A decrease in the number of students studying economics.

Activity 2 Decide in each case, whether the following would cause an extension in demand, a contraction in demand, an increase in demand or a decrease in demand for fish in a country: A rise in the price of fish A report that eating fish reduces heart diseases. A fall in the price of chicken. Net emigration

Activity 3 In each case, using a demand and supply diagram, analyze the effect on the market for Ghanaian football shirts: A fall in incomes in Ghana and neighboring countries. A rise in the productivity of workers making Ghanaian football shirts. Ghana winning the world cup A tax being placed on Ghanaian football shirts New, cheaper but more efficient machinery being introduced to make Ghanaian football shirts.

Activity 4 In September 2005, Vietnam suffered an outbreak of avian (bird) flu. Thousands and millions of healthy chicken were vaccinated. This action was taken to prevent the spread of the disease not only among the chicken population but also to the human population. Use a demand and supply diagram to analyze the effect, this is likely to have on the market for chicken in Vietnam.