1. Supply and Demand Directions:
On each of the demand/supply graphs provided, move the demand or supply
curve to indicate the influence of these statements on the markeT.
Indicate the effect on price and quantity.

2. The Market for the IPad
The Ipad originated in 2010 and has consistently been the leader in the market for tablets.
This PPT will be based on the market for Ipads.

3. Part 1: Complementary Products
Find 3 products, such as the ones below, that would be considered complements to the Ipad. Find and paste pictures on the next 3 slides and type a description of how these products are complementary to the IPad.

4. Complementary Product 1
Type description here

5. Complementary Product 2
Type description here

6. Complementary Product 3
Type description here

7. Part 2: Substitute Products
Find 3 products that would be considered substitutes to the Ipad. Paste their pictures on the next 3 slides and type a description of how these products are substitutes to the IPad.

8. Substitute Product 1
Type description here

9. Substitute Product 2
Type description here

10. Substitute Product 3
Type description here

11. The Market For Oil
Oil has become the lifeline for modern economies, providing products such as gasoline and plastics. For each of the following slides indicate the affect of the scenario on the supply and demand for oil products.

12. The Market for Oil
There is an increase in the popularity of gas guzzling automobiles would affect the market for oil (gas is a derivative of oil).
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S
Place Picture Here Pe Pe D D Qe Qe
Quantity of Oil

13. The Market for Oil
Imagine there is a global recession, which caused people to travel less, will would affect the market for oil (used to create gasoline).
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S
Place Picture Here Pe Pe D D Qe Qe
Quantity of Oil

14. The Market for Oil
Suppose a war breaks out in the Middle East, which causes oil producing countries to cut back on their production of oil, would affect the market.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S S
Place Picture Here Pe Pe D D Qe Qe
Quantity of Oil

15. The Market for Oil
Show how U.S. congressional action that allows oil-drilling operations in previously untapped Alaskan preserves, would affect the market.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S S
Place Picture Here Pe Pe D D Qe Qe
Quantity of Oil

16. The Market for Oil
Hybrid cars (which run on less gasoline) increase in their popularity and people stop purchasing gas guzzling automobiles.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S S
Place Picture Here Pe Pe D D Qe Qe
Quantity of Oil

17. The Market for Oil
Emergingg markets, such as China, India, etc. open their borders to trade. They have more money to spend and begin buying cars from around the world..
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S S
Place Picture Here Pe Pe D D Qe Qe
Quantity of Oil

18. Dieting
A new diet has become popular. This diet calls for lots of meat and vegetables, with little or no breads and fruits. Due to this diet, how would each of the following slides be affected?

19. Dieting Show how the new diet would affect the market demand for meat.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S S
Place Picture Here Pe Pe D D Qe Qe
Quantity

20. Dieting
Show how the new diet would affect the market demand for bread.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S S
Place Picture Here Pe Pe D D Qe Qe
Quantity

21. Dieting
Show how the new diet would affect the market demand for fruits.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S S
Place Picture Here Pe Pe D D Qe Qe
Quantity

22. Dieting
Show how the new diet would affect the market demand for vegetables.
Move curve and arrow in the direction of the shift. Indicate the effect of price on and quantity.
Price S S
Place Picture Here Pe Pe D D Qe Qe
Quantity

23. What is the product being sold? _________________________
Supply and Demand Interactive Go to:
What is the product being sold? _________________________
Create a supply and demand schedule for each of the following price points:
List the following:
Market clearing price (equilibrium price) _________
Quantity equilibrium _________
Description of equilibrium price (found at top of page)_______________________
What is the surplus at $ 8 __________
What is the surplus at $ 6 __________
Description of surplus _________________________________________________
What is the shortage at $ 3 _________
What is the shortage at $ 4 _________
Description of shortage ________________________________________________
Price
Quantity Demanded
Quantity Supplied 8 7 6 5
4.10 3

24. Go to: http://www. reffonomics. com/TRB/chapter4/sd12
Go to: Shift the curve on the website above in order to fill in the blanks for each of the following:
Scenario
Curve Shifted (Supply or Demand)
Direction (Right or Left)
Affect on Price (Increase or Decrease)
Quantity (Increase or Decrease)
Assume that the economy of the country of Alpha is experiencing increasing unemployment. Steak is considered a normal good in Alpha.
Assume that the economy of the country of Alpha is experiencing increasing unemployment. Hamburger is considered an inferior good in Alpha.
The country of Alpha experiences an increase in immigration that leads to an additional one million consumers. What will be the affect on this immigration on Grog the popular drink of Alpha.
A plague has a devastating impact on the population of Alpha. Illustrate using a supply and demand graph how this will impact the market for chicken.
Coffee and cream are complementary goods. An unexpected period of bad weather adversely affects the coffee bean crop. Use a supply and demand graph to illustrate the affect of this bad weather on the price and quantity of coffee.
Coffee and cream are complementary goods. An unexpected period of bad weather adversely affects the coffee bean crop. Use a supply and demand graph to illustrate the affect of this bad weather on the price and quantity of cream.
A major news source reports an outbreak of salmonella affects the peanut butter snacks industry. Use a supply and demand graph to illustrate the immediate impact on price and quantity of this news