Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Name ___________________________ Class _____________________ Date __________ CHAPTER 4 STUDENT ACTIVITY Analyzing Shifts in Demand 3 SECTION 2 Various factors can cause market demand to increase or decrease. ◆ Read the descriptions of several scenarios below, and then answer the questions that follow. Scenario 1: Weather forecasters say that a coming holiday weekend will be sunny. Stores see increased sales for sunglasses, sunblock, and beach chairs. Scenario 2: The government issues tax rebate checks to taxpayers, hoping they will increase their spending, which will stimulate the economy. Sales of cars, electronics, and clothing go up. Scenario 3: When a coffee shop cuts the price of bagels, people want to buy more. Scenario 4: A famous actress introduces a new perfume, which has strong sales in its first year. Scenario 5: A company that has been producing foods used in Latino cooking for many decades finds that its sales have doubled in the last twenty years. Scenario 6: A series of commercials shows people enjoying vacation cruises, and reservations for the cruise line increase. Scenario 7: More fans want to buy lower-priced tickets to a baseball game than higher-priced ones. Scenario 8: A video game company announces it will introduce a new game console in three months. Sales of the older version of the console drop by 25 percent. Scenario 9: More families want to buy turkey in November than in August. Scenario 10: Sales of contact lens cleaner increase as more people wear contact lenses. Questions to Think About 1. (a) Which scenarios reflect a shift in the demand curve? Why? (b) Which scenarios demonstrate the law of demand? Why? (c) What is the difference between these two types of situations? 4. Which scenario or scenarios reflect a change in demand due to consumer preferences, tastes, or advertising? Why? 5. Which scenario or scenarios reflect a change in demand due to population trends? Why? 2. Which scenario or scenarios reflect a change in demand as a result of consumer expectations? Why? 6. Which scenario or scenarios reflect a change in demand due to changes in demand for a substitute or complementary produce? Why? 3. Which scenario or scenarios reflect a change in demand due to changes in income? Why? Copyright © by Pearson Education, Inc., or its affiliates. All rights reserved. 23