Join with one other member and do the following: A, Choose a product with which you are familiar (i.e. Starbuck's Frappuccinos) that will be affected by the dynamics of the market economy. B. Make up two different headlines for two graphs relating to factors causing a shift in deman then show how each will impact the product related to either surpluses or shortages and ultimately a change in the equilibrium price. One must be an increase in demand, the other decrease in demand. You may only use each cause of a shift once!!! such as population C. Do the same for two factors causing a shift in supply. You must draw a separate graph fo each factor. You may only use each cause of a shift once! such as technology. D. Type a paragraph about each of your graphs (four total) to predict whether the product will demonstrate an increase or decrease in demand or supply and what will have to happen economically (i.e., shortage, surplus, price increase, price decrease). EACH POSTER SHOULD CONTAIN: A. Name of product (3 pts.) Bob's Polo T-Shirt Company B. Headline affecting change in supply or demand (5 pts. Ea.) C. GRAPH - Labeled correctly and completely Price INCREASE IN DEMAND (S & D Shifts) (13 pts. Each) D. Reason for the shift (5 pts. Ea.) Demand for Polo T- Supp E. Spelling/Grammar (5 pts.) Shirts P2 PI Ne "Schools Require CAUSES FOR A CHANGE IN DEMAND: Students to Wear Polo T- Shirts for School Fads/tastes/preferences/ads Uniforms" [Population Consumer expectations change or Preferences] Q1 02 Qu . . . Substitute goods/services Complementary goods Population changes . Income changes DECREASE SUPPLY Price New 2 Supply Supply for Polo T- CAUSES FOR A CHANGE IN SUPPLY: Supply 1 Shirts Cost of production (inputs) P2 "Employee Salaries P1 increase 7% at Bob's Technology shirt Company" [Cost Number of sellers Demand Production] . . Global Events Q2 01 Events of Nature Quantity Government intervention (tariffs, subsidies, taxes, regulations)