Answer these 8 questions.Just write letter and explain where demand and supply shifts and why.

6. The diagram below shows the market for crude oil. The initial equilibrium position is indicated by point X. What will be the new equilibrium (A, B, C or D) following the closure of a major oil field and an increase in the demand for petrol? S, Price per S barrel of oil A V B X D y D, D Quantity of oil barrels per time period Answer (1) Explanation .. . ........."The Market for Bus Transport in Harchester 1?rice per bus Journey 31 S 32 0 Quantity of bus journeys The diagram shows the supply and demand for bus travel in Harchester. In this town, bus travel is an inferior good. Real incomes increase and, at the same time, there is a signicant increase in fuel costs for operating buses. If the initial equilibrium position is indicated by point X, what will be the new equilibrium position, A, B, C or D? ' (1) (b) Explanation 8. The 10 billion Crossrail project. providing new rail links across central London, will require the services of hundreds of electricians over the next ten years. At the same time, there is likely to be a signicant fall in the number of school leavers training to be electricians. Ifthe initial equilibrium point is E, which of the points A, B, C, D shows the likely new equilibrium position in the labour market? Wage rate of electricians Number of electricians m . (1) Market for Beef Price of S1 Beef W V D B A D2 D3 D1 Quantity of Beef The diagram relates to the market for beef, a substitute for chicken. The initial equilibrium position is indicated by point X. An outbreak of Bird Flu results in the demand for chicken falling and, at the same time, the ban on the sales of beef older than three years is removed. What will be the new equilibrium point (A, B, C or D)? (a) Answer (1) (b) ExplanationPrice of rugby balls Quantity of rugby balls The diagram shows the demand and supply of rugby bails in the United Kingdom. Following the publicity generated by the Rugby World Cup, the number of people playing rugby has increased. At the same time production of rugby balls has switched to a lowwage economy. ' If the initial point is X, which of the following points A, B, C, D shows the likely new equilibrium point for rugby balls? .- (a) Answer :l (b) Explanation (1) Market for Asparagus S. Price of S1 Asparagus per kilo ({) C /B D, D, Quantity of Asparagus (kilos) The diagram shows the market for asparagus. The initial equilibrium position is indicated by point X. Following a successful advertising campaign for asparagus by the celebrity chef Jamie Oliver and a sustained period of rain which damaged the asparagus crop, what would be the new equilibrium point (A, B, C or D)? (a) Answer (1) (b) Explanation3. Market for flights to the United Arab Emirates (UAE) Price per flight to D1 the UAE (E) A X D2 3 Quantity of flights to the UAE (thousands) The diagram shows the demand for and supply of flights to the United Arab Emirates (UAE) from the UK. The government raises taxes on flights out of the United Kingdom, whilst the UAE tourist board embarks on a successful advertising campaign. If the initial equilibrium point is X, which of the following points, A, B, C, D shows the likely new equilibrium point for the flights? (a) Answer (1) (b) Explanation4. Market for The Killers' CDs S, Price of The Killers' CD (E) A D2 D, Quantity of The Killers' CDs The diagram shows the demand for and supply of The Killers' latest CD. The band embark on a successful concert tour of Europe and at the same time there is an increase in the cost of producing CDs. If the initial equilibrium point is X, which of the following points, A, B, C, D shows the likely new equilibrium point for the album? (a) Answer (1) (b) Explanation