Determinants of Supply and Demand

Consider the market for gas-powered small cars. Assume gas-powered small cars are a normal good.

For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the "None" option under the "Supply Determinant" column.

Event	Demand Determinant	Supply Determinant
People decide to have more children.
The price of electric small cars falls.
The discovery of a new source of iron ore lowers steel prices.
An economic recession lowers people's wealth.
A number of major car dealers decide to switch from selling gas-powered cars to selling electric cars.