For each of the following market scenarios, explain in detail how the market equilibrium would change:

i. Market for air travel: Due to the pandemic many people lost their jobs

(2 marks)

ii. Market for organic vegetables: New medical evidence reports that eating organic products reduces the incidence of cancer

(2 marks)

iii. Market for coffee (the drink): Growers of coffee beans experience an unusually good growing season

(2 marks)

Hint: For each scenario, you must identify

The relevant demand/supply determinant

Direction of the shift of the demand/supply curve

Adjustment process