Because of the ASEAN trade summit, goods from Southeast Asian countries are more prevalent in the market. Filipino customers in particular are becoming fond of Korean ice cream. Given this situation, how will demand and supply for Korean ice cream change? Use the three-step analysis to explain the shift indemand: Did this event shift supply, demand, or both curves? (3points)

Did the curves shift to the right or to the left? (3points)

Use the diagram below to illustrate how supply and demand diagram shifted. The exact prices and quantity of goods should be kept blank. (10points)