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Use the Supply and Demand model to answer the questions for each of the following examples. These examples require that both supply and demand shift

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Use the Supply and Demand model to answer the questions for each of the following examples. These examples require that both supply and demand shift at the same time: Market for Office Furniture A global pandemic forces people to work from home. The government shuts down business for non essential businesses which includes fumiture manufacturers. Supply Shift (increase or decrease): Blank 1 Demand Shift (increase or decrease): Blank 2 Price (increase, decrease, indeterminate): Blank 3 Quantity (increase, decrease, indeterminate): Blank 4 Marker for Electricity Generators It is hurricane season and weather forecasts predict a series of category 5 hurricanes hitting our area. New technology has allowed prices on parts needed to build electricity generators to decrease. Supply Shift (increase or decrease): Blank 5 Demand Shift (increase or decrease): Blank 6 Price (increase, decrease, indeterminate): Blank 7 Quantity (increase, decrease, indeterminate): Blank 8

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