ure https://digital wwnor 1NQUIZITIVE hapter 3: The Market at Work: Supply and D
ID: 1140013 • Letter: U
Question
ure https://digital wwnor 1NQUIZITIVE hapter 3: The Market at Work: Supply and Demand e Page 106 Appendic Changes in Both Demand and Supply Apply the correct label to each situation. Pumpkins: an early frost destroyed much of the pumpkin crop. A newspaper reports zucchini is better for pie than pumpkin. Corn: news media run stories about people with corn allergies. The corn crop is unusually large Demand and supply both decrease. Demand decreases and supply increases. Demand and supply both increase. Demand increases and supply decreases. Gasoline: a new housing development goes up. Several new gas stations are built nearby Taxis: public transit workers at a popular tourist attraction go on strike as a holiday weekend approaches. MacBook Ai FS F2
Explanation / Answer
a) Frost will decrease the supply of pumpkin and newspaper report will decrease the demand for pumpkin. The answer is "demand and supply both decrease".
b) It will decrease the demand as people have allergies and the supply will increase due to unusually large crop. The answer is "Demand decrease and supply increase".
c) "Demand and supply both increase"
New housing will incease the demand and the supply will increase due to new pumps opening there.
d) "Demand increases and supply decreases"
holiday will increase the demand and strike will decrease the suppy of public transport.
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