Economics Scenarios to Practice. All Scenarios Start with: And your sentence will look like this: _______ will ________ due to ___________; therefore.

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Presentation transcript:

Economics Scenarios to Practice

All Scenarios Start with: And your sentence will look like this: _______ will ________ due to ___________; therefore the curve will shift ________. As a result, price will _____________.

Scenarios to Practice #1 Good Morning America, Ellen, and Oprah have all done specials on the new it toy to have for this spring, the Zhu Zhu pet. How will this affect price for this toy hamster?

Scenarios to Practice #2 A hard freeze in Florida has destroyed nearly 75% of the orange crop. What impact will this have on price of orange juice?

Scenarios to Practice #3 The FDA announces a new report that butter saturated diet can be directly linked to the growing heart disease here in America. How will this affect the price for margarine?

Scenarios to Practice #4 New York State government has granted funding to all pumpkin farmers in the four Western New York counties hit with the storm. How will this affect the price of pumpkins?

Scenarios to Practice #5 A hot summer in France ruined much of the red wine grapes. How will this impact the price of red wine?

Scenarios to Practice #6 Red wine has been proven to help prevent heart attacks. How will this impact the price of red wine?

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