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Demand and Supply Practice
Use Economic Analysis to determine what happens to the price and quantity of cars in each scenario.
Change
Graph
Economic Analysis
When the average price of
oil, a resource, rises.
The workers who produce
the cars go on strike for
over two months.
Cars are a normal good.
The average income in
America has fallen by 10%.
New studies have shown
that having a new car helps
with mental health.
Many new immigrants,
many of whom are
educated, have moved into
America in the last two
years.
The price of motorcycles, a
product also produced by
car producers, rises.
(Analyze cars!)
1. Draw and Label Equilibrium:
2. The Change:
Supply or Demand
Increase or Decrease
Shifter
3. After: Price
Quantity
1. Draw and Label Equilibrium:
2. The Change:
Supply or Demand
Increase or Decrease
Shifter
3. After: Price
Quantity
1. Draw and Label Equilibrium:
2. The Change:
Supply or Demand
Increase or Decrease
Shifter
3. After: Price
Quantity
1. Draw and Label Equilibrium:
2. The Change:
Supply or Demand
Increase or Decrease
Shifter
3. After: Price
Quantity
1. Draw and Label Equilibrium:
2. The Change:
Supply or Demand
Increase or Decrease
Shifter
3. After: Price
Quantity
1. Draw and Label Equilibrium:
2. The Change:
Supply or Demand
Increase or Decrease
Shifter
3. After: Price
Quantity