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After you have studied Economics in the News on pp. 78-79, answer the following questions. 1. Why are spirits and hand sanitizer substitutes in production?

After you have studied Economics in the News on pp. 78-79, answer the following questions.

1. Why are spirits and hand sanitizer substitutes in production?

2. Why did the increase in demand for hand sanitizer increase the quantity supplied and not increase supply?

3. What would have happened to the supply of hand sanitizer if the price of spirits had fallen?

4. How would the supply of spirits have changed when the price of hand sanitizer increased?

5. What are the powerful market forces that operated in the market for hand sanitizer

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