Question
Indicate the effects of the given statement on the demand and supply of good based on the following outcomes. Write the phrase of your choice
Indicate the effects of the given statement on the demand and supply of good based on the following outcomes. Write the phrase of your choice on the space provided before each demand and supply.
a.Shift to the right
b.Shift to the left
c.No Change
___ 1.Well-received market innovation of new cellphones
Demand for cellphone
Supply of cellphone
__ 2.Decrease in the price of Good Y
Demand for Good Y
Supply of Good Y
__ 3.Anticipated increase in general price level of basic commodities
Demand for basic commodities
Supply of basic commodities
__ 4.Government increases worker's wages
Demand for basic commodities
Supply of basic commodities
__5.Increase in death rate due to calamities
Demand for basic commodities
Supply of basic commodities
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