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In the next set of problems, you examine scenarios and determine if there is a change in the quantity supplied and quantity demanded. Alternatively, the
In the next set of problems, you examine scenarios and determine if there is a change in the quantity supplied and quantity demanded. Alternatively, the scenario may describe a shift in supply or a shift in demand. Remember a change in the quantity supplied or the quantity demanded results in movement along the current supply and demand curves. Whereas, a shift in supply or a shift in demand results in a shift of the whole curve to the left or right of the current curve. The tables below list questions to help you identify if there was a shift in supply or a shift in demand. Shift in the supply curve: Is there a change in taxes? Is there a change In future price expectations? Did a random event, such as a weather event, impact production
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