Assessment 3 (A day) Supply and Demand

Starbucks lowers the price of its Frappuccinos, what is the graphical representation of the change in quantity demanded?

A downward movement along the demand curve

If the price of Tesla's Model S increases, how is this change in quantity supplied represented on the supply graph?

An upward movement along the supply curve

Due to a new sales promotion at Walmart, the price of a popular toy drops significantly. How is the change in the number or toys consumers are willing to buy shown on a demand graph?

A downward movement along the demand curve

If there is a rise in the price of fresh produce, what is the graphical effect on its own supply curve?

An upward movement along the supply curve

Due to a viral trend on TikTok, demand for Stanley mugs suddenly skyrockets. How is this change shown on the graph for Stanley?

A leftward shift of the supply curve

If consumer income decreases due to a recession, how does this affect the demand for luxury watches from brands like Rolex?

The demand curve shifts to the left

A new, more efficient automated assembly line is installed at a Ford factory. What is the effect on the supply of Ford trucks?

The supply curve shifts to the right

If the price of computer chips (A key input) increases, how does this affect the supply of laptops from companies like Dell?

The supply curve shifts to the left

The price of a substitute, like Coca-Cola, decreases. How does this affect the demand for Pepsi?

The demand curve shifts to the left

The price of a complementary good, like peanut butter, decreases. How does this affect the demand for jelly?

The demand curve for jelly shifts to the right

The government provides a subsidy to farmers who grow corn. How is this change in the market for corn shown on the supply graph?

The supply curve shifts to the right

Due to a major natural disaster, a key supplier of raw materials for Boeing planes is shut down. How does this affect the supply of Boeing aircraft?

The supply curve shifts to the left

What happens to the demand for fast food from a company like McDonald's if consumer income decreases? (Note: Fast food is considered an inferior good)

The demand curve shifts to the right

A new health report reveals that consuming too much sugar is harmful, leading to a decline in the popularity of sugary drinks from companies like Coca-Cola. What is the graphical effect on the demand for Coca-Cola?

The demand curve shifts to the left

Due to favorable weather, the number of successful wheat farms in the United States increases. How does this affect the market supply of wheat?

The supply curve shifts to the right