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Consider the market for Sport Utility Vehicles or SUV's. Each event below will affect the market in some way. For each one, please provide which

Consider the market for Sport Utility Vehicles or SUV's. Each event below will affect the market in some way. For each one, please provide which factor of demand or supply is affected. Also, describe the movement of the demand or supply curve.Then, give the effect on price and quantity of SUV's given the shift in the demand or supply curve. (Drawing a supply and demand graph for each one will be helpful)

  1. Families decide to have more children.
  2. A steelworkers' strike raises steel prices.
  3. New, more efficient, automated technology is invented for the production of SUV's.
  4. The price of minivans rises. (Assume minivans are a substitute for SUV's)
  5. The stock market crashes which lowers people's wealth.

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