Determinants of Supply and Demand

Consider the market for minivans. Assume minivans 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.
A strike by steelworkers raises steel prices.
Engineers develop new automated machinery for the production of minivans.
The price of sports utility vehicles rises.
A stock-market crash lowers people's wealth.

\fSPICINGIGT MINDTAP