Market Event Demand/Supply? Factor Graph Impact on P & Q Pizzas A drought destroys much of the tomato and wheat crop. Supply Input Cost Supply shift left P↑ Q↓ Four new Pizza shops open. Supply Supply shift right P↓ Q↑ Oreo cookies The price of milk increases. Demand Complement Demand shift left P↓ Q↓ Cowboy boots Old Navy launches an ad campaign called, "Everyone in cowboy boots" Demand T/P Demand shift right P↑ Q↑ Oranges There's an early frost which destroys much of the crop. Supply Input Cost Supply shift left P↑ Q↓ Japanese Cars The U.S. imposes a tariff on Japanese car imports. Supply Gov't Action Supply shift left P↑ Q↓ Taxi Service After listening to "Downtown", people are persuaded to not only buy a moped but more importantly start using Uber more. Demand Substitutes Demand shift left P↓ Q↓ Redwood Lumber The EPA (Environmental Protection Agency) strictly enforces a ban on all processing of redwood timber. Supply Gov't Action Supply shift left P↑ Q↓ Segway The makers of Segways feel that with the ever increasing price of gas they will need to produce more Segways. Supply Expectation Supply shift right P↓ Q↑ Hot dogs 60 Minutes does and expose called "The Truth about Hot Dogs" Demand T/P Demand shift left P↓ Q↓ Paper All students in Mr. Degnore's Econ class graduate and go into Paper Science Engineering. Supply Labor Supply shift left P↑ Q↓

Equibrium Sitchiations Practice

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