1/ Several studies have shown promising links between green tea consumption and

Question

1/ Several studies have shown promising links between green tea consumption and cancer prevention. How does this affect the market for green tea?
A) The demand for green tea curve shifts to the right because of a change in tastes and preferences in favor of green tea.
B) The supply of green tea curve shifts to the right because of a change in tastes and preferences in favor of green tea.
C) The demand for green tea curve shifts to the left because this new information will surely increase the price of green tea.
D) The supply of green tea curve shifts to the right because this new information will surely increase the price of green tea.

2. Technological advancements have resulted in lower prices for digital cameras. What is the impact of this on the market for traditional photography?
A) The demand curve for traditional photography shifts to the right.
B) The demand curve for traditional photography shifts to the left.
C) The supply curve for traditional photography shifts to the right.
D) The supply curve for traditional photography shifts to the left.
E) None Of The Above

3. How does the increasing use of digital cameras affect the market for traditional camera film?
A) The demand curve for camera film shifts to the left.
B) The demand curve for camera film shifts to the right.
C) The supply curve for camera film shifts to the left.
D) The supply curve for camera film shifts to the right.
E) None Of The Above

4. Tom Searchinger, a senior attorney at the Environmental Defense fund, observed that generous farm subsidies have made it lucrative for farmers to produce more corn and more wheat. How does this impact the market for fertilizer?
A) The supply of fertilizer increases.
B) The supply of fertilizer decreases
C) The demand for fertilizer increases.
D) The demand for fertilizer decreases.
E) None Of The Above

Explanation / Answer

1. Several studies have shown promising links between green tea consumption and cancer prevention. How does this affect the market for green tea? A) The demand for green tea curve shifts to the right because of a change in tastes and preferences in favor of green tea. 2. Technological advancements have resulted in lower prices for digital cameras. What is the impact of this on the market for traditional photography? C) The supply curve for traditional photography shifts to the right. 3. How does the increasing use of digital cameras affect the market for traditional camera film? B) The demand curve for camera film shifts to the right. 4. Tom Searchinger, a senior attorney at the Environmental Defense fund, observed that generous farm subsidies have made it lucrative for farmers to produce more corn and more wheat. How does this impact the market for fertilizer? A) The supply of fertilizer increases.

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