Demand and Supply curves problem?
Using demand and supply curves: i) The price of coffee has risen because of a frost in Brazil reducing the coffee crop. Answer: Supply decreases, demand increases ii) A fall in air fares from UK has raised demand for hotel rooms on Spanish costas. Answer: Deamand increases, supply decreases iii) Further falls in chip prices have led to a reduction in the price of laptop computers Answer: Demand Increases, Supply decreases iv) An exceptional cold winter in North America leads to a higher price of oil Answer: Supply increase, Demand decrease v) A disease in British beef necessitates the slaughtering of large numbers of cattle Answer: supply decreasesm demand increases Did i do the answers correct? Thanks
Economics - 1 Answers
People's Answers, Critics, Comments, Opinions :
Answer 1 :
1. supply decreases demand remains unchanged 2. demand increases supply remains unchanged 3. demand increases supply decreases or remains unchanged 4. demand increases supply remains constant 5. supply decreases demand remains the same
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Sunday, November 14, 2010
Demand and Supply curves problem? Using demand and supply curves: i) The price of coffee has risen because of a frost in Brazil reducing the coffee crop. Answer: Supply decreases, demand increases ii) A fall in air fares from UK has raised demand for hotel rooms on Spanish costas. Answer: Deamand increases, supply decreases iii) Further falls in chip prices have led to a reduction in the price of laptop computers Answer: Demand Increases, Supply decreases iv) An exceptional cold winter in North America leads to a higher price of oil Answer: Supply increase, Demand decrease v) A disease in British beef necessitates the slaughtering of large numbers of cattle Answer: supply decreasesm demand increases Did i do the answers correct? Thanks Economics - 1 Answers People's Answers, Critics, Comments, Opinions : Answer 1 : 1. supply decreases demand remains unchanged 2. demand increases supply remains unchanged 3. demand increases supply decreases or remains unchanged 4. demand increases supply remains constant 5. supply decreases demand remains the same
